Exercise 3-18A Recording transactions in general journal and T-accounts The following events apply to Sanford Service Co. for 2013, its first year of operation: 1. Received cash of $60,000 from the issue of common stock. 2. Performed $100,000 worth of services on account. 3. Paid $74,000 cash for salaries expense. 4. Purchased supplies for $13,000 on account. 5. Collected $79,000 of accounts receivable. 6. Paid $9,500 of the accounts payable. 7. Paid a $6,000 dividend to the stockholders. 8. Had $2,500 of supplies on hand at the end of the period. Required a. Record these events in general journal form. b. Post the entries to T-accounts and determine the ending balance in each account. c. Determine the amount of total assets at the end of 2013. d. Determine the amount of net income for 2013.