Required information Problem 3-8A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: $20,000 B,000 4,000 15,000 Accounts Receivable Supplies Equipment Accunulated Depreciation salaries Payable Common Stock Retained Earnings $ 5,000 7,500 25,000 $47,000 47,000 Total The following is a summary of the transactions for the year: 1. March 2. May 3. June 12 Provide erviceas to customers, $60,000, of which $21,000 on account 2 Collect on accounts receivable, $18,000 30 Issue shares of common stock in exchange for $6,000 cash 1 Pay salaries of $7,500 from 2020 (prior year) August S. September 25 Pay repaira and maintenance expenses, $13,000 6. October 19 Purchase equipnent for $8,000 cash 7. Decenber 30 Pay $1,100 cash dividends to stockholders Problem 3-8A Part 9 9. Record closing entries. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) Required information Problem 3-8A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Debits credita $20,000 B,000 4,000 15,000 Accounts Receivable Supplies Equipment Accumalated Depreciation salaries Payable Common Stock Retained Earnings $ 5,000 7,500 25,000 $47,000 $47,000 The following is a summary of the transactions for the year: 1. March 2. May 3. June 12 Provide services to customers, $60,000, of which $21,000 on account 2 Collect on accounta receivable, $18,000 30 Issue shares of common stock in exchange for $6,000 cash 1 Pay salaries of $7,500 from 2020 (prior year) August S. September 25 Pay repaira and maintenance expenses, $13,000 6. October 19 Purchase equipnent for $8,000 cash 7. Decenber 30 Pay $1,100 cash dividends to stockholders Problem 3-8A Parts 1, 3, 6 and 10 Required: , 3., 6., & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. Required information Problem 3-8A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: $20,000 B,000 4,000 15,000 Accounts Receivable Supplies Equipment 'ccumulated Depreciation salaries Payable Common Stock Retained Earnings $ 5,000 7,500 25,000 $47,000 $47,000 Totala The following is a summary of the transactions for the year: 1. March 2. May 3. June 12 Provide services to customers, $60,000, of which $21,000 on account 2 Collect on accounta receivable, $18,000 30 Issue shares of common stock in exchange for $6,000 cash 1 Pay salaries of $7,500 from 2020 (prior year) August S. September 25 Pay repaira and maintenance expenses, $13,000 6. October 19 Purchase equipnent for $8,000 cash 7. Decenber 30 Pay $1,100 cash dividends to stockholders Problem 3-8A Part 11 11. Prepare a post-closing trial balance. Required information Problem 3-8A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: $20,000 B,000 4,000 15,000 Accounts Receivable Supplies Equipment Accunulated Depreciation salaries Payable Common Stock Retained Earnings $ 5,000 7,500 25,000 $47,000 47,000 Total The following is a summary of the transactions for the year: 1. March 2. May 3. June 12 Provide erviceas to customers, $60,000, of which $21,000 on account 2 Collect on accounts receivable, $18,000 30 Issue shares of common stock in exchange for $6,000 cash 1 Pay salaries of $7,500 from 2020 (prior year) August S. September 25 Pay repaira and maintenance expenses, $13,000 6. October 19 Purchase equipnent for $8,000 cash 7. Decenber 30 Pay $1,100 cash dividends to stockholders Problem 3-8A Part 9 9. Record closing entries. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) Required information Problem 3-8A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Debits credita $20,000 B,000 4,000 15,000 Accounts Receivable Supplies Equipment Accumalated Depreciation salaries Payable Common Stock Retained Earnings $ 5,000 7,500 25,000 $47,000 $47,000 The following is a summary of the transactions for the year: 1. March 2. May 3. June 12 Provide services to customers, $60,000, of which $21,000 on account 2 Collect on accounta receivable, $18,000 30 Issue shares of common stock in exchange for $6,000 cash 1 Pay salaries of $7,500 from 2020 (prior year) August S. September 25 Pay repaira and maintenance expenses, $13,000 6. October 19 Purchase equipnent for $8,000 cash 7. Decenber 30 Pay $1,100 cash dividends to stockholders Problem 3-8A Parts 1, 3, 6 and 10 Required: , 3., 6., & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. Required information Problem 3-8A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: $20,000 B,000 4,000 15,000 Accounts Receivable Supplies Equipment 'ccumulated Depreciation salaries Payable Common Stock Retained Earnings $ 5,000 7,500 25,000 $47,000 $47,000 Totala The following is a summary of the transactions for the year: 1. March 2. May 3. June 12 Provide services to customers, $60,000, of which $21,000 on account 2 Collect on accounta receivable, $18,000 30 Issue shares of common stock in exchange for $6,000 cash 1 Pay salaries of $7,500 from 2020 (prior year) August S. September 25 Pay repaira and maintenance expenses, $13,000 6. October 19 Purchase equipnent for $8,000 cash 7. Decenber 30 Pay $1,100 cash dividends to stockholders Problem 3-8A Part 11 11. Prepare a post-closing trial balance