7 0 Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Part 7 of 8 16 points Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals Debits Credits $10,000 6,000 2,000 20,000 $ 7,000 9,500 15,000 6,500 $38,000 $38,000 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $40,000, of which $19,000 is on account. 2. May 2 Collect on accounts receivable, $16,800. 3. June 30 Issue shares of common stock in exchange for $6,000 cash. 4. August 1 Pay salaries of $9,500 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $11,000. 6. October 19 Purchase equipment for $6,000 cash. 7. December 30 Pay $1,200 cash dividends to stockholders. Required: 1., 3., 6., & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. Answer is not complete. Cash 10,000 21,000 16.000 Beg. Bal. March 12 Accounts Receivable 6,000 16,000 19,000 Beg. Bal. March 12 May 02 June 30 9,500 11,000 6,000 1,200 6.000 End. Bal. 25,300 End. Bal 9,000 Supplies 2,000 Beg. Bal. Beg. Bal. October 19 Equipment 20,000 6,000 End. Bal. 2,000 End. Bal. 26,000 Accumulated Depreciation 7,000 Salaries Payable 9,500 X 9,500 Beg. Bal. Beg. Bal. End. Bal. 7,000 End. Bal. 0