Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Cash Debits Credits $19,500 Accounts Receivable 7,900 Supplies 3,900 Equipment 14,500 Accumulated Depreciation $ 4,800 Salaries Payable Common Stock Retained Earnings Totals 6,800) 24,500 9,700 $45,800 $45,800 The following is a summary of the transactions for the year: 1. March 2. May 3. June 4. August 12 Provide services to customers, $59,000, of which $20,900 is on account. 2 Collect on accounts receivable, $17,900. 30 Issue shares of common stock in exchange for $5,000 cash. 1 Pay salaries of $6,800 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $12,900. 6. October 19 Purchase equipment for $7,900 cash. 7. December 30 Pay $1,000 cash dividends to stockholders.