The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits Debits $14,500 6,900 2,900 15,500 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 5,200 7,700 19,500 7,400 $39,800 $39,800 The following is a summary of the transactions for the year: 2. May 1. March 12 Provide services to customers, $49,000, of which $19,900 is on account. 2 Collect on accounts receivable, $16,900. 3. June 30 Issue shares of common stock in exchange for $4,000 cash. 4. August 1 Pay salaries of $7,700 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $11,900. 6. October 19 Purchase equipment for $6,900 cash. 7. December 30 Pay $1,200 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued salaries at year-end amounted to $18,400. Depreciation for the year on the equipment is $3,900. Office supplies remaining on hand at the end of the year equal $1,100. Answer is complete and correct. No Transaction General Journal Credit 1 a. Cash Debit 29,100 19,900 Accounts receivable Service revenue 49,000 2. b. Cash 16,900 Accounts receivable 16,900 3 C. Cash 4,000 Common stock 4,000 00 000 4 d. Salaries expense 17,200 7,700 Salaries payable Cash 24,900 5 e. 11,900 Repairs and maintenance expense Cash O 11,900 6 f. 6,900 Equipment Cash 6,900 7 g. Dividends 1,200 Record the adjusting entry for salaries. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general journal Journal entry worksheet LLLL Record the closing entry for revenue. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general journal Journal entry worksheet IIII. Record the closing entry for expenses. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general journal Journal entry worksheet Record the closing entry for cash dividends. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general journal Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Choose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Red Storm Cleaners Income Statement For the Year Ended December 31, 2021 Revenues: Total Revenues 0 Expenses: Total Expenses 0 $ 0 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and liability account is reported separate balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Red Storm Cleaners Balance Sheet December 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Total Current Liabilities 0 Stockholders' Equity 0 0 0 Total Current Assets Long-term Assets: 0 0 0 0 0 Total Stockholders' Equity 0 Total Liabilities and Stockholders' Equity Total Assets $ $ 0