The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 10,000 Accounts Receivable 6,000 Supplies 2,000 Equipment 20,000 Accumulated Depreciation $ 7,000 Salaries Payable 9,500 Common Stock 15,000 Retained Earnings 6,500 Totals $ 38,000 $ 38,000 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $40,000, of which $19,000 is on account. 2. May 2 Collect on accounts receivable, $16,000. 3. June 30 Issue shares of common stock in exchange for $6,000 cash. 4. August 1 Pay salaries of $9,500 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $11,000. 6. October 19 Purchase equipment for $6,000 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 $15,700. Depreciation for the year on the equipment is $3,000. Office supplies remaining on hand at the end of the year equal $1,000