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The general ledger of Blue Highway Cleaners at January 1, 2024, 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 2023 (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. Required: 2. Record each of the summary transactions listed above. 4. Prepare an unadjusted trial balance. 5. Record adjusting entries. Accrued salaries at year-end amounted to $19,500. Depreciation for the year on the equipment is $4,000. Office supplies remaining on hand at the end of the year equal $1,000 7. Prepare an adjusted trial balance, B-a. Prepare the income statement for the year ended December 31, 2024. 8-b. Prepare the classified balance sheet for the year ended December 31, 2024 9. Record closing entries. Required: 2. Record each of the summary transactions listed above. 4. Prepare an unadjusted trial balance. 5. Record adjusting entries, Accrued salaries at year-end amounted to $19,500. Depreciation for the year on the equipment is $4.000. Office supplies remaining on hand at the end of the year equal $1,000 7. Prepare an adjusted trial balance. 8-a. Prepare the income statement for the year ended December 31, 2024 8-b. Prepare the classified balance sheet for the year ended December 31, 2024 9. Record closing entries. 11. Prepare a post-closing trial balance 1,3., 6., & 10. Post the transactions, adjusting entrles and closing entries to the T-accounts. Be sure to include beginning balances
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