The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances:...
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The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals Debits Credits $12,000 6,400 2,400 18,000 $ 6,200 8,700 17,000 6,900 $38,800 $38,800 The following is a summary of the transactions for the year: 1. March 2. May 3. June 4. August 12 Provide services to customers, $44,000, of which $19,400 is on account. 2 Collect on accounts receivable, $16,400. 30 Issue shares of common stock in exchange for $6,000 cash. 1 Pay salaries of $8,700 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $11,400. 6. October 19 Purchase equipment for $6,400 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. 2. Record each of the summary transactions listed above. (If no entry is required for a particular transaction/event, selec journal entry required" in the first account field.) View transaction list View journal entry worksheet The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals Debits Credits $12,000 6,400 2,400 18,000 $ 6,200 8,700 17,000 6,900 $38,800 $38,800 The following is a summary of the transactions for the year: 1. March 2. May 3. June 4. August 12 Provide services to customers, $44,000, of which $19,400 is on account. 2 Collect on accounts receivable, $16,400. 30 Issue shares of common stock in exchange for $6,000 cash. 1 Pay salaries of $8,700 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $11,400. 6. October 19 Purchase equipment for $6,400 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. 2. Record each of the summary transactions listed above. (If no entry is required for a particular transaction/event, selec journal entry required" in the first account field.) View transaction list View journal entry worksheet
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