The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals Debits $12,500 6,500 2,500 17,500 $ 6,000 8.500 17,500 7.000 $39,000 $39,000 The following is a summary of the transactions for the year 1. March 12 Provide services to customers, $45,000, of which $19,500 is on account. 2. May 2 Collect on accounts receivable, $16,500 3. June 30 Issue shares of common stock in exchange for $5,000 cash. 4. August 1 Pay salaries of $8,500 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $11,500. 5. October 19 Purchase equipment for $6,500 cash. 7. December 30 pay $1,000 cash dividends to stockholders. The following information is available for the adjusting entries Accrued salaries at year-end amounted to $17,000 Depreciation for the year on the equipment is $3.500 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 1. Record each of the transactions listed above in the General Journal' tab (these are shown as items 17). Review the General Ledger and the Trial Balance' tabs to see the effect of the transactions on the account balances 2. Record the adjusting entries in the 'General Journal tab (these are shown as items 8-10). 3. Review the adjusted Trial Balance as of December 31, 2021. 4. Prepare an income statement for the period ended December 31, 2021, in the income Statement tab. 5. Prepare a classified balance sheet as of December 31, 2021 in the Balance Sheet' tab 6. Record the closing entries in the 'General Journal tab (these are shown as items 11-13). General Journal > Journal entry worksheet Record the adjusting entry for salaries. Note: Enter debits before credits. Credit Date General Journal December 31 Salaries Expense Salaries Expense Debit 17,000 17,000 Record entry Clear entry View general journal Journal entry worksheet Record the adjusting entry for depreciation. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general Journal 6 7 8 9 11 12 13 Record the adjusting entry for supplies remaining on hand at the end of the year equal to $1,200. Note: Enter debits before credits. General Journal Debit Credit Date December 31 Record entry Clear entry View general journal