Required information The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balanc Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals Debits Credits $ 3,900 8,900 2,900 24,000 $ 5,600 3,600 4,600 0 17,000 8,900 $39,700 $39,700 4 5 6 . Check Totals $39,700 $39,700 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $14,000, and on account, $59,000. 2. March 13 Collect on accounts receivable, $47,000. 3. May 6 Issue shares of common stock in exchange for $10,000 cash. 4. June 30 Pay salaries for the current year, $31,800. 5. September 15 Pay utilities of $4,600 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $7,600. 7. December 30 Pay $1,800 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $5,600. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $7,600 paid in advance by customers, $5,800 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,200. RA Chapter 3 Homework (Algo) 4. Required information 2 3 4 Part 3 of 8 Record the adjusting entry for depreciation, $5,600. 5.55 points Note: Enter debits before credits eBook Date General Journal Credit Debit Print December 31 References Type here to search hP 4 Required information 4 of 9 9 5 6 ype here to search la