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Return to question The general ledger of Red Storm Cleaners at January 1, 2018, includes the following account balances Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings $ 11,500 6,300 2,300 18,500 $ 6,400 8,900 16,500 6,800 Totals $38,600 $38,600 The following is a summary of the transactions for the year a. March 12 Provide services to customers, $43,000, of which $19,300 is on account b. May2 Collect on accounts receivable, $16,300 c. June 30 Issue shares of common stock in exchange for $4,000 cash. d. August 1 Pay salaries, $24,300 (of which $8,900 is for salaries payable in 2017). e. September25 Pay repairs and maintenance expenses, $11,300 f. October 19 Purchase equipment for $6,300 cash. g. 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 $1.200. Depreciation for the year on the equipment is $3,300. Office supplies remaining on hand at the end of the year equal $1,100 Prev 1 of 7Next>