Required information Problem 3-8A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Debits Credits Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings $20,000 8,000 4,000 15,000 $ 5,000 7,500 25,000 9,500 $47,000 47,000 Totals The following is a summary of the transactions for the year: 1. March 2. May 3. June 4. August 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. 12 Provide services to custoners, $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) Problem 3-8A Part 2 2. Record each of the summary transactions listed above. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) Required information Problem 3-8A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3- 6, 3-7) The general ledger of Red Storm Cleaners at January 1, 2021, Includes the following account balances: Accounts Debits Ccredits Cash $20,000 8,000 4,000 Receivable Supplies Equipment 5, 000 caumulated Depreciation Salarics Payable Common Stock Rctained Earning_ $ 5,000 7,500 25,000 9,500 $47,000 47,000 Zotals The ollowing is a summary of the transactions for the year 1. March 12 Provide servicesto custoners, $60,000, of which $21,000 s on 2 Collect on accounts receivable, 0 Iue hares of comnon stock in Pay salaries of $7,500 from 2020 . Septenber 25 Pay repaira and maintenance 2. Hay $18,000 exchange for $6,000 cash (prior year) expenss, $13, 000 3. June August 6. October 19 Purchase equipment for $8, 000 cash 7.December 30 Pay 1,100 cash dividends to stockholders Problem 3-8A Part 4 . Prepare an unadjusted trial balance. ash Accounts Receivable laries Payable Service Revenue Repairs and