Alabama Service Company was formed on January 1, 2014 Events Affecting the 2014 Accounting Period 1. Acquired cash of $71,000 from the issue of common stock. 2. Purchased $3,400 of supplies on account. 3. Purchased land that cost $40,000 cash. 4. Paid $1,900 cash to settle accounts payable created in Event 2 5. Recognized revenue on account of $64,000. 6. Paid $32,000 cash for other operating expenses. 7. Collected $49,000 cash from accounts receivable Information for 2014 Adjusting Entries 8. Recognized accrued salaries of $4,300 on December 31, 2014. 9. Had $1,300 of supplies on hand at the end of the accounting period. Events Affecting the 2015 Accounting Period 1. Acquired an additional $31,000 cash from the issue of common stock. 2. Paid $4,300 cash to settle the salaries payable obligation. 3. Paid $6,900 cash in advance for a lease on office facilities. 4. Sold land that had cost $26,000 for $26,000 cash. 5. Received $8,100 cash in advance for services to be performed in the future 6. Purchased $2,100 of supplies on account during the year. 7. Provided services on account of $43,000. 8. Collected $44,000 cash from accounts receivable 9. Paid a cash dividend of $3,000 to the stockholders. 10. Paid other operating expenses of $30,500 Information for 2015 Adjusting Entries 11. The advance payment for rental of the office facilities (see Event 3) was made on March 1 for a one-year 12. The cash advance for services to be provided in the future was collected on October 1 (see Event 5). The lease term. one-year contract started October 1 13. Had $1,400 of supplies on hand at the end of the period. 14. Recognized accrued salaries of $5,000 at the end of the accounting period. 15. Recognized $1,500 of accrued interest revenue