The general ledger of Pipers Plumbing at January 1, 2021. includes the following account balances: Accounts Debits Credits Cash $ 4,250 Accounts Receivable. 9,250 Supplies 3,250 Equipment 31,000 Accumulated Depreciation: $7,000 Accounts Payable 5,000 Utilities Payable. 6,000 Deferred Revenue 0 Common Stock 20,500 Retained Earnings 9,250 Totals $47,750 $47,750 The following is a summary of the transactions for the year: 1. January 2. March 3. May 24 Provide plumbing services for cash, $17,500, and on account, $62,500. 13 Collect on accounts receivable, $50,500. 6 Issue shares of common stock in exchange for $12,000 cash. 4. June 5. September 15 Pay utilities of $6,000 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $9,000. 7. December 30 Pay $2,500 cash dividends to stockholders. 30 Pay salaries for the current year, $32,500. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $7,000. Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $9,000 paid in advance by customers, $6,500 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,500.