GL2-14 Complete the full accounting cycle The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances Accounts Debits Credits Cash $ 4,400 Accounts Receivable 9.400 Supplies 3,400 Equipment 34,000 Accumulated Depreciation $ 7.600 Accounts Payable 5,500 utilities Payable 6,600 Deferred Revenue Common Stock 22,000 Retained Earnings 9,400 Totals $51,200 $51,200 0 The following is a summary of the transactions for the year 1. January 24 Provide plumbing services for cash, $19.000, and on account. 564.000 2. March 13 Collect on accounts receivable, 552,000 3. May 6 Issue shares of common stock in exchange for $12,000 cash 30 Pay salaries for the current year. $32,000 5. September 15 Pay utilities of 56,600 from 2020 (prior year) 6. November 24 Receive cash in advance from customers, 59.600 7. December 30 Pay $2,800 cash dividends to stockholders The following is a summary of the transactions for the year 1. January 24 Provide plumbing services for cash, $19.000, and on account, 564,000 2. March 13 Collect on accounts receivable, 552,000 3. May 5 Issue shares of common stock in exchange for $12,000 cash 4 June 30 Pay salaries for the current year. $32,800 5. September 15 Pay utilities of $6,500 from 2020 (prior year) 6. November 24 Receive cash in advance from customers, 59, 600 7. December 30 Pay $2,800 cash dividends to stockholders The following information is available for the adjusting entries Depreciation for the year on the machinery is $7600. Plumbing supplies remaining on hand at the end of the year equal $1200 or the $9.600 paid in advance by customers, 56,800 of the work has been completed by the end of the year Accrued utilities at year-end amounted to $6.200 Requirement General Journal General Ledger Tral Balance Income Statement Balance Sheet 1. Record each of the transactions listed above in the General Journal' tab these are shown sitems 17). Review the "General Ledger and the Trial Balance' tabs to see the effect of the transactions on the account balance 2. Record the adjusting entries in the General Journal' tab these are shown as items 8-10) 3. Review the adjusted Trial Balance' as of December 31, 2021 4. Prepare an income statement for the period ended December 31, 2021, in the Income Statement 5. Prepare a classified balance sheet as of December 31, 2021 in the Balance Sheet 6. Record the desing entries in the General Journal tab these are shown asems 11-13)