Critical Thinking Assignment #1 Cody Mountain Sports (CMS) is an outdoor sporting goods guiding service located in northern Wyoming.. CMS primarily provides guiding for common outdoor activities such as rock climbing, hiking, and skiing. CMS completed the following transactions during March of 2021: Mar. 1 CMS Began operations by receiving $120,000 in cash Mar. 1 Mar. 4 Mar 15 Mar. 18 Mar. 19 Mar. 22 Mar. 24 Mar. 27 Mar 31 The business issued shares of common stockin exchange for this contribution. CMS paid $1,400 cash for a 12 month insurance policy. The policy begins Mar. 1. CMS guided a small rock climbing trip, receiving $22,000 payment in cash. CMS guided a hiking adventure, billing the customer $3,500 and received a promise of payment within one week. Accrued employee salaries of $15,000 Purchased fuel for vehicles on account for $900. Collected $3,500 from customer on account. Paid rent on their building, $4,000 cash. Paid $900 cash on account. Cash dividends of $2,600 were paid to stockholders. Requirements: 3. Post these transactions to the t-accounts. Bal Bal Common Stock Credits Debits Cash Credits Debits Bal Accounts Receivable Debits Debits Credits Bal. Bal Wages Payable Credits Bal Dividends Expense Credits Debits Debits Prepaid Insurance Credits Debits Service Revenue Credits Bal: Bal: Rent Expense Fuel Expense Debits Credits Debits Credits Bal Wages Expense Debits Credits Bal Bal Accounts Payable Debits Credits