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 $20,000 8,000 4,000 15,000 $ 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 3. June 4. August 2 Collect on accounts receivable, $18,000. 30 Issue shares of common stock in exchange for $6,000 cash. 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. 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.