1 The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Accounts 10 Cash points Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable eBook Deferred Revenue Common Stock Print Retained Earnings Totals References Debits $3,600 Credits 8,600 2,600 18,000 $ 4,400 2,400 3,400 14,000 8,600 $32,800 $32,800 The following is a summary of the transactions for the year 1. January 2. March 3. May 4. June 24 Provide plumbing services for cash, $11,000, and on account, $56,000. 13 Collect on accounts receivable, $44,000. 6 Issue shares of common stock in exchange for $10,000 cash. 30 Pay salaries for the current year, $31,200. 5. September 15 Pay utilities of $3,400 from 2020 (prior year).. 6. November 24 Receive cash in advance from customers, $6,400. 7. December 30 Pay $1,200 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $4,400. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $6,400 paid in advance by customers, $5,200 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,800.