ed At the beginning of Year 2, the accounting records of Grace Company included the accounts and balances shown on the first row of the table below. During Year 2, the following transactions occurred: 1. Received $101,500 cash for providing services to customers 2. Paid salaries expense, $57,800. 3. Purchased land for $14,600 cash 4. Paid $7,900 on note payable 5. Paid operating expenses, $28,500 6. Pald cash dividend, $5,100 Required: a) Record the transactions in the appropriate accounts. Provide appropriate titles for these accounts in the last column of the table. Note: Amounts to be deducted should be indicated with a minus sign. Assets Liabilities Stockholder's Equity Event Accounts Titles for ences Notes Common Cash Land + Payable Stock Retained Earnings Retained Earnings Beginning balance 36,800 + 38,500 24,500 + 39,500 + 11,300 1 X+ + + 2 [ 3 4 5 6 Totals x+ = 4 = 4 36,800 38,500 24,500 + + + 39,500 + 11,300 + 4 + "hed text indicates no response was expected in a war a formula-besed calculation is incorrect no points deducted