1. Began operations by acquiring $90,000 of cash from the issue of common stock 2. Performed services and collected cash of $9,000 3. Collected $36,000 of cash in advance for services to be provided over the next 12 months. 4. Provided $58,000 of services on account. 5. Purchased supplies of S5,200 on account Asset Exchange Transactions 6. Purchased $21,000 of land for cash 7. Collected $49,000 of cash from accounts receivable. 8. Purchased $3,150 of supplies with cash 9. Paid $12,000 for one year's rent in advance. Asset Use Transections 10. Paid $24.000 cash for salaries of employees. 11. Paid a cash dividend of $5,000 to the stockholders 12. Paid off S3,600 of the accounts payable with cash. Claims Exchange Transections 13. Placed an advertisement in the local newspaper for $2,600 on account Incurred utility expense of $1,800 on account Adjusting Entries I5. Recognized $12.000 of revenue for performing services. The collection of cash for these services occurred in a prior tra See Event 3) 16. Recorded $8,000 of accrued salary expense at the end of Year 1 17. Recorded supplies expense. Had $1,900 of supplies on hand at the end of the accounting period 18. Recognized four months of expense for prepaid rent that had been used up during the accounting periocd Required a. Record each of the preceding events in T-accounts ash Beg Bal Beg Bal K Prev 3 of 7I! Next