Required information [The following information applies to the questions displayed below.) The general ledger of Red Storm Cleaners at January 1, 2018, includes the following account balances: Accounts Debits Credits Cash $ 16,500 Accounts Receivable 7,300 Supplies 3,300 Equipment 11,500 Accumulated Depreciation $ 3,600 Salaries Payable 5,600 Common Stock 21,500 Retained Earnings 7.900 Totals $38,600 $38,600 The following is a summary of the transactions for the year. a. March 12 Provide services to customers, $53,000, of which $20,300 is on account. b. May 2 Collect on accounts receivable, $17,300. C. June 30 Issue shares of common stock in exchange for $5,000 cash. d. August 1 Pay salaries, $25,300 (of which $5,600 is for salaries payable in 2017). e. September 25 Pay repairs and maintenance expenses, $12,300. f. October 19 Purchase equipment for $7,300 cash. g. December 30 Pay $1,000 cash dividends to stockholders. h. Accrued salaries at year-end amounted to $1,000. Depreciation for the year on the equipment is $4,300. Office supplies remaining on hand at the end of the year equal $1,000. Record the entry to close the expense accounts. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2018 Record entry Clear entry View general Journal