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H Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate comm
H Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate comm Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals Debits $20,000 8,000 Credits 4,000 15,000 $ 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: 2. May 3. June 4. August 12 Provide services to customers, $60,000, of which $21,000 is on account. 2 Collect on accounts receivable, $18,000. 30 Issue shares of common stock in exchange for $6,000 cash. 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. 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 Equipment 23,000 Accumulated Depreciation 5,000 Salaries Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Repairs and Maintenance Expense Depreciation Expense Supplies Expense Totals 31,000 9,500 1,100 60,000 13,000 $ 105,500 $ 105,500
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