9. Record closing entries. (If no entry is required for a particular transaction/event, select "No journal entry View transaction list Journal entry worksheet 2 3 Record the entry to close the expense accounts. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2018 Record entry Clear entry View general journal 9. Record closing entries. (If no entry is required for a particular transaction/event, select "No journal entry requir View transaction list Journal entry worksheet Record the entry to close the dividends account. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2018 Record entry Clear entry View general journal Problem 3-8A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The following information appies to the questions displayed below. The general ledger of Red Storm Cleaners at January 1, 2018, includes the following account balances: Debits Credits Cash Accounts Recevable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings $12,500 6,500 2,500 7500 6,000 8.500 17,500 7,000 Totals $39,000 $39,000 The following is a summary of the transactions for the year a. March 12 Provide services to customers, $45,000, of which $19,500 is on account b. May 2 Collect on accounts receivable, $16,500 c. June 30 Issue shares of common stock In exchange for $5,000 cash d. August 1 Pay salaries, $24,500 (of which $8,500 is for salarles payable in 2017) e. September 25 Pay repairs and maintenance expenses, $11,500 f. October 19 Purchase equipment for $6,500 cash. g. December 30 Pay $1,000 cash dividends to stockholders R Accued salaries otl year end amounted to $1000 Depreciation for the year on the equipment is $3,500.omce suppliesremaining on hand at the end of the year equai s.20