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Required information [The following information applies to the questions displayed below.] The following events apply to Gulf Seafood for the Year 1 fiscal year: 1. The company started when it acquired $38,000 cash by issuing common stock. 2. Purchased a new cooktop that cost $16,200 cash. 3. Earned $22,300 in cash revenue. 4. Paid $12,500 cash for salaries expense. 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1 , Year 1 , the cooktop has an expected useful life of five years and an estimated salvage value of $2,800. Use straight-line depreciation. The adjusting entry was made as of December 31, Year 1. Record the events in general journal. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet C D E > Record entry for issuance of common stock. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Post the events to T-accounts