Credits Debits $20,000 8,000 4,000 15,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 5,000 7,500 25,000 9,500 $47,000 $47,000 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $60,000, of which $21,000 is on account. 2. May 2 Collect on accounts receivable, $18,000. 3. June 30 Issue shares of common stock in exchange for $6,000 cash. 4. August 1 Pay salaries of $7,500 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $13,000. 6. October 19 Purchase equipment for $8,000 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. 7. Prepare an adjusted trial balance. Answer is not complete. RED STORM CLEANERS Adjusted Trial Balance December 31, 2021 Accounts Debit Credit Cash $ 53,400 Accounts Receivable 11,000 Supplies 4,000 X Equipment 23,000 Accumulated Depreciation 5,000 X Salaries Payable Common Stock 31,000 Retained Earnings 9,500 Dividends 1,100 Service Revenue 60,000 Salaries Expense Repairs and Maintenance Expense 13,000 Depreciation Expense Supplies Expense Totals $ 105,500 $ 105,500