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: 1. March 12 Provide services to customers, $49,000, of which $19,900 is on account. 2. May 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. Award: 10.00 points Award: 10.00 points 5. Record adjusting entries. Accrued salaries at year-end amounted to $19.700. Depreciation for the year on the equipment is $3,900. Office Supplies remaining on hand at the end of the year equal $1,100. (If no entry is required for a particular transaction/event, select "No journa entry required in the first account field.) View transaction list Journal entry worksheet