Exercise 13-17A (Algo) Recording transactions in the general journal and T-accounts LO 13-1, 13-2 The following events apply to Montgomery Company for Year 1 , its first year of operation: 1. Received cash of $30.000 from the issue of common stock. 2. Performed $49.000 of services on account. 3. Incurred $6,700 of other operating expenses on account. 4. Pakd $22.000 cash for salaries expense. 5. Collected $35,000 of accounts recelvable. 6. Paid a $3,100 dividend to the stockhoiders. 7. Performed $9,600 af services for cash. 8. Paid $5,600 of the accounts payable. Required o. Record the preceding transactions in general joumal form. b. Post the entries to T-occounts and determine the ending balance in each account. c. \& d. Determine the amount of total assets at the end of Yeat 1 , and the amount of net income for Year 1 . Complete this question by entering your answers in the tabs below