The general ledger of Red Storm Cleaners at January 1, 2018, includes the following account balances: Accounts Debits Credits Cash $ 20,000 Accounts Receivable 8,000 Supplies 4,000 Equipment 15,000 Accumulated Depreciation $ 5,000 Salaries Payable 7,500 Common Stock 25,000 Retained Earnings 9,500 Totals $ 47,000 $ 47,000 The following is a summary of the transactions for the year: March 12 Provide services to customers, $60,000, of which $21,000 is on account. May 2 Collect on accounts receivable, $18,000. June 30 Issue shares of common stock in exchange for $6,000 cash. August 1 Pay salaries, $26,000 (of which $7,500 is for salaries payable in 2017). September 25 Pay repairs and maintenance expenses, $13,000. October 19 Purchase equipment for $8,000 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 $5,000. Office supplies remaining on hand at the end of the year equal $1,200. rev: 09_12_2016_QC_CS-60711 References Section BreakProblem 3-8A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) 8.value: 1.00 pointsRequired information Problem 3-8A Parts 1, 3, 6 and 10Required: 1., 3. 6. & 10. Enter the unadjusted balances from the trial balance and post the adjusting entries to the T-accounts, and post the closing entries to the T-accounts.2. Record each of the summary transactions listed above.4. Prepare an unadjusted trial balance.5. Record adjusting entries. Problem 3-8A Part 77. Prepare an adjusted trial balance.8-a. Prepare the income statement for the year ended December 31, 2018.8-b. Prepare the classified balance sheet for the year ended December 31, 2018.9. Record closing entriesProblem 3-8A Part 1111. Prepare a post-closing trial balance.