Post the entries to T-accounts and determine the ending balance in each account.

The following events apply to Pearson Service Co. for Year 1 , its first year of operation: 1. Received cash of $60,000 from the issue of common stock. 2. Performed $115,000 worth of services on account. 3. Paid $79,000 cash for salaries expense. 4. Purchased supplies for $17,000 on account. 5. Collected $93,000 of accounts receivable. 6. Paid $12,500 of the accounts payable. 7. Paid a $6,000 dividend to the stockholders. 8. Had $2,000 of supplies on hand at the end of the period