1. Prepare the journal entries for transaction.

a. Record the providing of services to customers, $59,000, of which $20,900 is on account.

b. Record the collection on accounts receivable, 17,900.

c. Record the issuance of common stock in exchange for $5,000 cash.

d. Record the payment of salaries of $6,800 from 2020 (prior year).

e. Record the payment for repairs and maintenance expenses, $12,900.

f. Record the purchase of equipment for $7,900 cash.

i. Record the payment of $1,000 for cash dividends to stockholders.

j. Record the adjusting entry for salaries.

k. Record the adjusting entry for depreciation.

l. Record the adjusting entry for supplies remaining on hand at the end of the year equal to $1,000.

m. Record the closing entry for revenue.

n. Record the closing entry for expenses.

o. Record the closing entry for cash dividends.

3. Income Statement: Unadjusted, adjusted, post-closing

4. Balance Sheet: Unadjusted, adjusted, post-closing

The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits Debits $19,500 7,900 3,900 14,500 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 4,800 6,800 24,500 9,700 $45,800 $45,800 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $59,000, of which $20,900 is on account. 2. May 2 Collect on accounts receivable, $17,900. 3. June 30 Issue shares of common stock in exchange for $5,000 cash. 4. August 1 Pay salaries of $6,800 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $12,900. 6. October 19 Purchase equipment for $7,900 cash. 7. December 30 Pay $1,000 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued salaries at year-end amounted to $20,100. Depreciation for the year on the equipment is $4,900. Office supplies remaining on hand at the end of the year equal $1,000