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Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits Debits $ 18,500 7,700 3,700 13,500
Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits Debits $ 18,500 7,700 3,700 13,500 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 4,400 6,400 23,500 9,100 $ 43,400 $ 43,400 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $57,000, of which $20,700 is on account. 2. May 2 Collect on accounts receivable, $17,700. 3. June 30 Issue shares of common stock in exchange for $6,000 cash. 4. August 1 Pay salaries of $6,400 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $12,700. 6. October 19 Purchase equipment for $7,700 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. 5. Record adjusting entries. Accrued salaries at year-end amounted to $19,600. Depreciation for the year on the equipment is $4,700. Office supplies remaining on hand at the end of the year equal $1,200. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 Record the adjusting entry for salaries. Accrued salaries at year-end amounted to $19,600. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general journal 5. Record adjusting entries. Accrued salaries at year-end amounted to $19,600. Depreciation for the year on the equipment is $4,700. Office supplies remaining on hand at the end of the year equal $1,200. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet
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