614 Accounting Cycle 1 6 ex Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances Accounts Debits Credit $17,000 Cash 335 Me Graw P Supplie Accounts Receivable Equipment 3,400 12,000 Accumulates Depreciation Salaries Payable Common Stock Retained Earnings Totals 22,000 $39,800 $33,800 The following is a summary of the transactions for the year 1 March 7. May 3 4. 12 Provide services to customers, $54,000, of which $20,400 is an account 2 Collect on accounts receivable, $17,400. 3 Issue shares of common stock in exchange for $4,000 cash. 1 Pay salaries of $5,800 from 2020 (arior year), 5. September 25 Pay repairs and maintenance expenses, $12,400. 6. October 19 Purchase equipment for $2,400 cash 3 December 3 Pay $1,100 cash dividends te stockholders. 9. Record closing entries. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View action < Prev 6 78 of 8 Next > Help S&Ex Su Check my wirk