lI Company had the following balances in its accounting records as of December 31, 2018 Assets Cash Liabilities and Equity 46,000 54,000 31,000 $131,000 Accounts Payable Common Stock $ 28,000 85,000 Accounts Receivable Land Totals $131,000 es The following accounting events apply to Waddell Company's 2019 fiscal year Jan. Feb. 1 Acquired $48,000 cash from the issue of common stock. 1 Paid $5,100 cash in advance for a one-year lease for office space. Mar. 1 Paid a $1,700 cash dividend to the stockholders. April 1 Purchased additional land that cost $31,000 cash. May 1 Made a cash payment on accounts payable of $20,000. ly 1 Received $7,600 ash in advance as a retainer for services to be performed monthly over the coming year. sept. 1 Sold land for $2i,000 cash that had originally cost $21,000. Oct. Dec. 31 Earned $65,000 of service revenue on account during the year. 1 Purchased $1,050 of supplies on account. 31 Received cash collections from accounts receivable amounting to 31 Incurred other operating expenses on account during the year that $61,000. amounted to $10,000 31 Recognized accrued salaries expense of $5,300. 31 Had $130 of supplies on hand at the end of the period. 31 The land purchased on April 1 had a market value of $36,000. 31 Recognized $122 of accryed interest revenue