The general ledger of Red Storm Cleaners at January 1, 2018, includes the following account balances Accounts Debits Credits Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings $10,000 6,000 2,000 20,000 $ 7000 9,500 5,000 6,500 Totals $38,000 $38,000 The following is a summary of the transactions for the year: a. March 12 Provide services to customers, $40,000, of which $19,000 is on account 2 Collect on accounts receivable, $16,000. 30 Issue shares of common stock in exchange for $6,000 cash. b. May of which $950 is for salaries payable in 2017, June d. August 1 Pay salaries, $24,0 e. September25 Pay repairs and maintenance expenses, $11,000 f. October 19 Purchase equipment for $6,000 cash. g. December 30 Pay $1,200 cash dividends to stockholders. The following information is available for the adjusting entries