4 The general ledger of the Karlin Company, a consulting company, at January 1, 2016, contained the following account balances Account Title Debits Credits Cash 29,000 Accounts receivable 17,500 Equipment 30,000 Accumulated depreciation 9,000 Salaries payable 9,750 Common stock 48,500 Retained earnings 9,250 Total 76,500 76,500 The following is a summary of the transactions for the year a Sales of services, $132,000, of which $39,600 was on credit b Collected on accounts receivable, $26,500 c Issued shares of common stock in exchange for $15,500 in cash d Paid salaries, $48,250 (of which $9,750 was for salaries payable) e Paid miscellaneous expenses, $26,000 f Purchased equipment for $18,000 in cash g Paid $3,200 in cash dividends to shareholders 1 Accrued salaries at year end amounted to $965 2 Depreciation for the year on the equipment is $3,000 Required information Required 2 , 5, 8 Prepare the summary, adjusting and closing entries for each of the transactions listed (If no entry is required for a transaction event, select No journal entry required in the first account field )

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4. The general ledger of the Karlin Company, a consulting company, at January 1, 2016, contained the following account balances: Account Title Debits Credits Cash

The general ledger of the Karlin Company, a consulting company, at January 1, 2016, contained the following account balances:

Account Title	Debits	Credits
Cash	29,000
Accounts receivable	17,500
Equipment	30,000
Accumulated depreciation		9,000
Salaries payable		9,750
Common stock		48,500
Retained earnings		9,250

Total	76,500	76,500

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

a.	Sales of services, $132,000, of which $39,600 was on credit.
b.	Collected on accounts receivable, $26,500.
c.	Issued shares of common stock in exchange for $15,500 in cash.
d.	Paid salaries, $48,250 (of which $9,750 was for salaries payable).
e.	Paid miscellaneous expenses, $26,000.
f.	Purchased equipment for $18,000 in cash.
g.	Paid $3,200 in cash dividends to shareholders.

1.	Accrued salaries at year-end amounted to $965.
2.	Depreciation for the year on the equipment is $3,000.

Required information

Required:

2., 5, & 8.

Prepare the summary, adjusting and closing entries for each of the transactions listed. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)