please do this entire problem, P3--8A

7. Prepare a post-c P3-8A The general ledger of Red Storm Cleaners at January 1, 2021, includes t (L03-3. account balances: -7) Accounts Debits Credits Cash $20,000 Accounts Receivable 8,000 Supplies 4,000 Equipment 15,000 Accumulated Depreciation Salaries Payable $ 5,000 7,500 Common Stock 25,000 Retained Earnings Totals 9.500 $47,000 $47,000 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $60,000, of which $21,000 is on account. Collect on accounts receivable, $18,000. 2. May 2 3. June 30 Issue shares of common stock in exchange for $6,000 cash. 4. August 1 Pay salaries of $7,500 from 2020 (prior year). 5. September 25 6. October 19 Pay repairs and maintenance expenses, $13,000. Purchase equipment for $8,000 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. Required: 1. Set up the necessary T-accounts and enter the beginning balances from the trial balance. In addition to the accounts shown, the company also has accounts for Dividends, Service Revenue, Salaries Expense, Repairs and Maintenance Expense, Depreciation Expense, and Supplies Expense. 2. Record each of the summary transactions listed above. 3. Post the transactions to the accounts. 4. Prepare an unadjusted trial balance. 5. Record adjusting entries. Accrued salaries at year-end amounted to $19,600. Depreciation for the year on the equipment is $5,000. Office supplies remaining on hand at the end of year equal $1,200. the 6. Post adjusting entries. 7. Prepare an adjusted trial balance. 8. Prepare an income statement for 2021 and a classified balance sheet as of December 31, 2021. 9. Record closing entries. 10. Post closing entries. 11. Prepare a post-closing trial balance. the following