help learning outcome #3

The following events apply to Montgomery Company for Year 1 , its first year of operation: 1. Recelved cash of $38,000 from the issue of common stock. 2. Performed $57,000 of services on account. 3. Incurred $8,300 of other operating expenses on account. 4. Paid $30,000 cash for salaries expense. 5. Collected $39.000 of accounts receivable. 6. Paid a $3,900 dividend to the stockholders. 7. Pelformed $10,400 of services for cash. 8. Paid $6,400 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 . Journal entry worksheet D E F G Received cash of $38,000 from the issue of common stock. Note: Enter debits before credits. Post the entries to T-accounts and determine the ending balance in each account. Complete this question by entering your answers in the tabs below. Determine the amount of total assets at the end of Year 1 , and the amount of net income for Year 1