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GL2-11 Complete the accounting cycle On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $24,300 5,700 3,600 55,000 $ 3,700 70,000 14,900 $88,600 $88,600 During January 2021, the following transactions occur: January 2 Purchase rental space for one year in advanc $7,50 ($625/month). January 9 Purchase additional supplies on account, $4,000. January 13 Provide services to customers on account, $26,000. January 17 Receive cash in advance from customers for services to be provided in the future, $4, January 20 Pay cash for salaries, $12,000. January 22 Receive cash on accounts receivable, $24,600. January 29 Pay cash on accounts payable, $4,500. The following information is available on January 31. Rent for the month of January has expired. Supplies remaining at the end of January total $3,300. By the end of January, $3,575 of services has been provided to customers who paid in advance on Janua Unpaid salaries at the end of January are $5,450. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare a classified balance sheet as of January 31, 2021. Choose the appropriate accounts to complete the company's balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Adjusted Dynamite Fireworks Balance Sheet January 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Cash $ $ Accounts Payable Salaries Payable 3,200 5,450 Accounts Receivable Supplies Prepaid Rent 29,100 7,100 3,300 6,875 Deferred Revenue (3,575) Total Current Liabilities 5,075 Total Current Assets 46,375 Total Liabilities 5,075 Stockholders' Equity Long-term Assets: Land 55,000 70,000 Common Stock Retained Earnings 1 27,300 0 Total Stockholders' Equity Total Liabilities & Stockholders' Equity 97,300 102,375 Total Assets $ 101,375 $

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