Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits Debits $20,000 8,000 4,000 15,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 5,000 7,500 25,000 9,500 $47,000 $ 47,000 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $60,000, of which $21,000 is on account. 2. May 2 Collect on accounts receivable, $18,000. 3. June 30 Issue shares of common stock in exchange for $6,000 cash. 4. August 1 Pay salaries of $7,500 from 2020 (prior year). 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. Homework Ch 3 (i Saved Help Save & Exit Submit Check my work 17 Required: 1., 3., 6., & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. Part 4 of 4 Cash Accounts Receivable Beg. Bal. Beg. Bal. 10 points eBook Print End. Bal. 0 End. Bal. 0 References Supplies Equipment Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0 Accumulated Depreciation Salaries Payable Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0 S Mc Graw Hill