Exercise 13-17A 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 $34,000 from the issue of common stock 2. Performed $53,000 of services on account. 3. Incurred $7,500 of other operating expenses on account. 4. Paid $26,000 cash for salaries expense. 5. Collected $37,000 of accounts receivable. 6. Paid a $3.500 dividend to the stockholders. 7. Performed $10,000 of services for cash. 8. Paid $6,000 of the accounts payable. Required a. Record the preceding transactions in general journal form b. Post the entries to T-accounts and determine the ending balance in each account. c. & d. Determine the amount of total assets at the end of Year 1, and the amount of net income for Year 1. Complete this question by entering your answers in the tabs below. Reg A ReqB Reg C and D required" in the first account field.) View transaction list A : A Received cash of $34,000 from the issue of common stock B Performed $53,000 of services on account. C Incurred $7,500 of other operating expenses on account. D Paid $26,000 cash for salaries expense. Credit E Collected $37,000 of accounts receivable. F Paid a $3,500 dividend to the stockholders. G Performed $10,000 of services for cash. Note : = journal entry has been entered Recente Content View transaction list Journal entry worksheet Com us que u n Req A Req B Req C and D Post the entries to T-accounts and determine the ending balance in each account. Cash Accounts Receivable Beg Bal Beg. Bal Accounts Payable Common Stock Beg Bal Beg Bal End Pal Dividends Service Revenue 1 End Bal End. Bal Dividends Service Revenue Beg Bal Beg. Bali TL End. Bal End. Bal Salaries Expense Other Operating Expense Beg Bal Beg Bal End Bal End. Bal Required a. Record the preceding transactions in general journal form. b. Post the entries to Taccounts and determine the ending balance in each account. c. & d. Determine the amount of total assets at the end of Year 1, and the amount of net income for Year 1. Complete this question by entering your answers in the tabs below. Rega ReqB Reg C and D Determine the amount of total assets at the end of Year 1, and the amount of net income for Year 1. c. Total assets d. Net income ReqB