The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances:

Accounts Debits Credits

Cash $ 16,500

Accounts Receivable 7,300

Supplies 3,300

Equipment 11,500

Accumulated Depreciation $ 3,600

Salaries Payable 5,600

Common Stock 21,500

Retained Earnings 7,900

Totals $ 38,600 $ 38,600

The following is a summary of the transactions for the year:

1. March 12 Provide services to customers, $53,000, of which $20,300 is on account.

2. May 2 Collect on accounts receivable, $17,300.

3. June 30 Issue shares of common stock in exchange for $5,000 cash.

4. August 1 Pay salaries of $5,600 from 2020 (prior year).

5. September 25 Pay repairs and maintenance expenses, $12,300.

6. October 19 Purchase equipment for $7,300 cash.

7. December 30 Pay $1,000 cash dividends to stockholders.

The general ledger of Red Storm Cleaners at January 1, 2021. includes the following account balances: Accounts Debito Credits Cash $16,500 Accounts Receivable 7,300 Supplies 3,300 Equipment 11,500 Accumulated Depreciation $ 3,600 Salaries Payable 5,600 Common Stock 21,500 Retained Earnings 7.900 Totals $38,600 $38,600 The following is a summary of the transactions for the year 1. March 12 Provide services to customers, $53,000, of which $20,300 is on account. 2. May 2 Collect on accounts receivable, $17,300. 3. June 30 Issue shares of common stock in exchange for $5,000 cash. 4. August 1 Pay salaries of $5,600 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $12,300. 6. October 19 Purchase equipment for $7,300 cash. 7. December 30 Pay $1,000 cash dividends to stockholders. 9. Record closing entries. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) Record the closing entry for revenue. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general Journal N 3 > Record the closing entry for expenses. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general journal Journal entry worksheet