!\ Required information\ Exercise 2-3A (Algo) Effect of accruals on the financial statements LO 2-1, 2-2, 2-3\ [The following information applies to the questions displayed below.]\ Milea Incorporated experienced the following events in Year 1, its first year of operations:\ Received

$13,000

cash from the issue of common stock.\ Petformed services on account for

$45,000

.\ Paid the utility expense of

$1,350

.\ Collected

$38,700

of the accounts receivable.\ Recorded

$9,800

of accrued salaries at the end of the year.\ Paid a

$1,450

cash dividend to the stockholders.\ Exercise 2-3A (Algo) Part a\ Required:\ a. Record the events in general ledger accounts under an accounting equation. In the last column of the table, provide a account titles for the Retained Earnings amounts. The first transaction has been recorded as an example.\ Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input i\ \\\\table[[MILEA INCORPORATED],[Accounting Equation],[For the Year Ended December 31, Year 1],[Event,Assets,\\\\table[[

=

Required information Exercise 2-3A (Algo) Effect of accruals on the financial statements LO 2-1, 2-2, 2-3 [The following information applies to the questions displayed below.] Milea Incorporated experienced the following events in Year 1, its first year of operations: 1. Received $13,000 cash from the issue of common stock. 2. Petformed services on account for $45,000. 3. Paid the utility expense of $1,350. 4. Collected $38,700 of the accounts receivable. 5. Recorded $9,800 of accrued salaries at the end of the year. 6. Paid a $1,450 cash dividend to the stockholders. Exercise 2-3A (Algo) Part a Required: a. Record the events in general ledger accounts under an accounting equation. In the last column of the table, provide account titles for the Retained Earnings amounts. The first transaction has been recorded as an example. Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input Required information Exercise 2-3A (Algo) Effect of accruals on the financial statements LO 2-1, 2-2, 2-3 [The following information applies to the questions displayed below.] Milea Incorporated experienced the following events in Year 1, its first year of operations: 1. Received $13,000 cash from the issue of common stock. 2. Petformed services on account for $45,000. 3. Paid the utility expense of $1,350. 4. Collected $38,700 of the accounts receivable. 5. Recorded $9,800 of accrued salaries at the end of the year. 6. Paid a $1,450 cash dividend to the stockholders. Exercise 2-3A (Algo) Part a Required: a. Record the events in general ledger accounts under an accounting equation. In the last column of the table, provide account titles for the Retained Earnings amounts. The first transaction has been recorded as an example. Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input