Chapter 3 Homework Saved 12 Required information Part 7 of 7 The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits 0.74 points Debits $15,000 7,000 3,000 10,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals Skipped $ 3,000 5,000 20,000 7,000 $35,000 $ 35,000 eBook The following is a summary of the transactions for the year: Print References 1. March 12 Provide services to customers, $50,000, of which $20,000 is on account. 2. May 2 Collect on accounts receivable, $17,000. 3. June 30 Issue shares of common stock in exchange for $5,000 cash. 4. August 1 Pay salaries of $5,000 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $12,000. 6. October 19 Purchase equipment for $7,000 cash. 7. December 30 Pay $1,000 cash dividends to stockholders. 11. Prepare a post-closing trial balance. RED STORM CLEANERS Post-Closing Trial Balance December 31, 2021 Debit Accounts Credit 12 2. May Collect on accounts receivable, $17,000. 3. June 30 Issue shares of common stock in exchange for $5,000 cash. 4. August 1 Pay salaries of $5,000 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $12,000. 6. October 19 Purchase equipment for $7,000 cash. 7. December 30 Pay $1,000 cash dividends to stockholders. Part 7 of 7 Part 7017 11. Prepare a post-closing trial balance. 0.74 points Skipped RED STORM CLEANERS Post-Closing Trial Balance December 31, 2021 Debit Accounts Credit eBook Print References Totals $ co