The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Debits Credits
Cash $15,000
Accounts Receivable 7,000
Supplies 3,000
Equipment 10,000
Accumulated Depreciation $3,000
Salaries Payable 5,000
Common Stock 20,000
Retained Earnings 7,000
Totals $35,000 $35,000

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

1. March 12 Provide services to customers, $50,000, of which $20,000 is on account.
2. May 2 Collect on accounts receivable, $17,000.
3. June 30 Issue shares of common stock in exchange for $5,000 cash.
4. August 1 Pay salaries of $5,000 from 2020 (prior year).
5. September 25 Pay repairs and maintenance expenses, $12,000.
6. October 19 Purchase equipment for $7,000 cash.
7. December 30 Pay $1,000 cash dividends to stockholders.

The following information is available for the adjusting entries.

Accrued salaries at year-end amounted to $21,000.
Depreciation for the year on the equipment is $4,000.
Office supplies remaining on hand at the end of the year equal $1,000.

Requried:
Record each of the summary transactions listed above.