1. Received $15,000 cash from the issue of common stock.
2. Performed services on account for $45,000.
3. Paid the utility expense of $1,250.
4. Collected $35,080 of the accounts receivable.
5. Recorded $5,600 of accrued salaries at the end of the year.
6. Paid a $1,400 cash dividend to the stockholders.

a. Record the events in general ledger accounts under an accounting equation. In the last column of the table, provide appropriate account titles for the Retained Earnings amounts. The first transaction has been recorded as an example. (Not all cells require input. Enter any decreases to account balances with a minus sign.) MILIA, INCORPORATED General Ledger Accounts For the Year Ended December 31, Year 1 Assets Liabilities Stockholders' Equity Accounts Salaries Common Retained Cash Receivable Payable Stock Earnings 15,000 15,000 Account Titles for Retained Earnings Event = + 1. = + 2. 1111 3. + + + . . 6. 4. 5. IIIII + 6. Totals 15,000 01 = 0 + 15,000 0