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Prepare the journal entries for transactions! The general ledger of Red Storm Cleaners at January 1, 2021. Includes the following account balances: Credits Accounts Cash
Prepare the journal entries for transactions!
The general ledger of Red Storm Cleaners at January 1, 2021. Includes the following account balances: Credits Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals Debits 510, 500 6,1ee 2,100 19,500 5 6,500 9,300 15,500 6,600 $38, 20e $38,200 The following is a summary of the transactions for the year. 1. March 12 provide services to customers, 541,eee, of which $19, 100 is on account. 2. May 2 Collect on accounts receivable, $16,1ee. 3. June 30 Issue shares of common stock in exchange for $6,eee cash 4. August 1 Pay salaries of $9,3ee from 2eze (prior year). 5. September 25 Pay repairs and maintenance expenses, $11,100. 6. October 19 Purchase equipment for $6,1ee cash. 7. December 30 Pay $1,180 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued salaries at year-end amounted to $15.900. Depreciation for the year on the equipment is $3.100. Office supplies remaining on hand at the end of the year equal $1,000 Prepare the journal entries for transactions. (If no entry is required for a transaction/event account field.) View transaction list 1 Record the providing of services to customers, $41,000, of which $19,100 is on account. 13 2 Record the collection on accounts receivable, 16,100. 1100 is 3 Record the issuance of common stock in exchange for $6,000 cash. 4 Record the payment of salaries of $9,300 from 2020 (prior year). Credit 5 Record the payment for repairs and maintenance expenses, $11,100. 6 Record the purchase of equipment for $6,100 cash. Note: = journal entry has been entered Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No jouma account field.) View transaction list 7 Record the payment of $1,100 for cash dividends to stockholders. 7 13 > 8 Record the adjusting entry for salanes. 100 is 9 Record the adjusting entry for depreciation. 10. Record the adjusting entry for supplies remaining on hand at the end of the year equal to $1,000. Credit 11 Record the closing entry for revenue. 2 12 Record the closing entry for expenses. 13 Record the closing entry for cash dividends. Note-journal entry has been entered Record entry Clear entry View general journal Step by Step Solution
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