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Required Information On January 1, 2021, the general ledger of Dynamite Fireworks Includes the following...

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Accounting

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Required Information On January 1, 2021, the general ledger of Dynamite Fireworks Includes the following account balances Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Comon stock Retained Earnings Totals Debit $ 25,460 6,299 4,709 66,60 81,600 17,199 $192,900 $102,999 During January 2021, the following transactions occur: January 2 Purchase rental space for one year in advance, $19,220 ($900/month). January 9 Purchase additional supplies on account, $5,100. January 13 Provide services to customers on account, $27,100. January 17 Receive cash in advance from customers for services to be provided in the future, $5,300. January 20 Pay cash for salaries, $13,100. January 22 Receive cash on accounts receivable, $25,700. January 29 Pay cash on accounts payable, $5,699. Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. General Journal Debit Credit Date January 31, 2021 Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits. General Journal Debit Credit Date January 31, 2021

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