Carolina Company experienced the following events during 2014.

1.	Acquired $10,000 cash from the issue of common stock.
2.	Paid $25,500 cash to purchase land.
3.	Borrowed $5,000 cash.
4.	Provided services for $60,000 cash.
5.	Paid $1,000 cash for rent expense.
6.	Paid $38,500 cash for other operating expenses.
7.	Paid a $2,000 cash dividend to the stockholders.
8.	Determined that the market value of the land purchased in Event 2 is now $30,000.

Required

a.

The January 1, 2014, general ledger account balances are shown in the following accounting equation. Record the eight events in the appropriate general ledger accounts. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate titles for these accounts in the last column of the table. The first event is shown as an example.