Problem 3-8A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7)

[The following information applies to the questions displayed below.]

The general ledger of Red Storm Cleaners at January 1, 2018, includes the following account balances:

Accounts	Debits			Credits
Cash	$	18,500
Accounts Receivable		7,700
Supplies		3,700
Equipment		13,500
Accumulated Depreciation				$	4,400
Salaries Payable					6,400
Common Stock					23,500
Retained Earnings					9,100
Totals	$	43,400		$	43,400

The following is a summary of the transactions for the year:

March 12 Provide services to customers, $57,000, of which $20,700 is on account.

May 2 Collect on accounts receivable, $17,700.

June 30 Issue shares of common stock in exchange for $6,000 cash.

August 1 Pay salaries, $25,700 (of which $6,400 is for salaries payable in 2017).

September 25 Pay repairs and maintenance expenses, $12,700.

October 19 Purchase equipment for $7,700 cash.

December 30 Pay $1,100 cash dividends to stockholders.

Accrued salaries at year-end amounted to $1,100. Depreciation for the year on the equipment is $4,700. Office supplies r

Problem 3-8A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The following information applies to the questions displayed below.] The generel ledger of Red Storm Cleaners at Jenuary 1, 2018, includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Debits Credits S18,500 3,700 13,500 S 4,400 6,400 23,500 9,100 Totals $43,400 $43,400 The following is a summary of the transactions for the year a. March 12 Provide services to customers, $57,000, of which $20,700 is on account. b. May 2 Collect on accounts receivable, $17,700. c. June 30 Issue shares of common stock in exchange for $6,000 cash. d. August 1 Pay salaries, $25,700 (of which $6,400 is for salaries payable in 2017). e. September 25 Pay repairs and maintenance expenses, $12,700. tOctober 19 Purchase equipment for $7,700 cash. g. December 30 Pay $1,100 cash dividends to stockholders. h. Accrued salaries at year-end amounted to $1,100. Depreciation for the year on the equipment is $4,700. Office supplies remaining on hand at the end of the year equal $1,200. Section Break Problem 3-8A Complete the full accounting cycle (LO3-3,3-4, 3-5, 3-6, 3-7)