The general ledger of Red Storm Cleaners at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Debits $ 20,000 8,000 Credits 4,000 15,000 $ 5,000 7,500 25,000 Retained Earnings Totals 9,500 $ 47,000 $ 47,000 The following is a summary of the transactions for the year: 1. March 12 2. May 2 Provide services to customers, $60,000, of which $21,000 is on account. Collect on accounts receivable, $18,000. 3. June 30 4. August 1 5. September 25 6. October 19 7. December 30 Issue shares of common stock in exchange for $6,000 cash. Pay salaries of $7,500 from 2023 (prior year). Pay repairs and maintenance expenses, $13,000. Purchase equipment for $8,000 cash. Pay $1,100 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued salaries at year-end amounted to $19,600. Depreciation for the year on the equipment is $5,000. Office supplies remaining on hand at the end of the year equal $1,200. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. No 1 Date March 12 Cash Accounts Receivable Service Revenue 2 May 02 Cash Accounts Receivable w 3 June 30 Cash Common Stock 4 August 01 5 September 25 Salaries Payable Cash General Journal Repairs and Maintenance Expense Cash 6 October 19 Equipment Cash > > > > Debit Credit 39,000 21,000 60,000 18,000 18,000 6,000 6,000 7,500 7,500 13,000 13,000 8,000 8,000 7 December 30 Dividends Cash 1,100 1,100 8 December 31 Salaries Expense Salaries Payable 19,600 19,600 6 December 31 Depreciation Expense 5,000 Accumulated Depreciation 5,000 10 December 31 Supplies Expense Supplies 2,800 2,800 11 December 31 Service Revenue Retained Earnings 12 December 31 Retained Earnings Repairs and Maintenance Expense Depreciation Expense Supplies Expense 13 December 31 Retained Earnings Dividends 60,000 60,000 19,600 x 13,000 5,000 2,800 1,100 1,100