Problem 3-8A (Algo) Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) (GL) The general ledger of Black Cloud Cleaners at January 1, 2024, includes the following account balances: The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $54,000, of which $20,400 is on account. 2. May 2 Collect on accounts receivable, $17,400. 3. June 30 Issue shares of common stock in exchange for $6,000 cash. 4. August 1 Pay salaries of $5,800 from 2023 (prior year). 5. September 25 Pay repairs and maintenance expenses, $12,400. 6. October 19 Purchase equipment for $7,400 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued salaries at year-end amounted to $19,600. Depreciation for the year on the equipment is $4,400. Office suppli remaining on hand at the end of the year equal $1,200. 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 to 7 ). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 8 to 10). 3. Review the adjusted 'Trial Balance' as of December 31, 2024. 4. Prepare an income statement for the period ended December 31, 2024, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of December 31, 2024 in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 11 to 13 )