! Required information [The following information applies to the questions displayed below.] The following events apply to Gulf Seafood for the Year 1 fiscal year: 1. The company started when it acquired $34,000 cash by issuing common stock. 2. Purchased a new cooktop that cost $15,900 cash. 3. Earned $18,100 in cash revenue. 4. Paid $13,300 cash for salaries expense. 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, Year 1, the cooktop has an expected useful life of five years and an estimated salvage value of $3,300. Use straight-line depreciation. The adjusting entry was made as of December 31, Year 1. Required a. Record the events in general journal format and post to T-accounts. ! Required information Cash Equipment - Cooktop Beginning Balance Beginning Balance 2. 1. 34,000 2. 15,900 15,900 13,300 3. 18,100 4. Ending Balance 22,900 Ending Balance 15,900 Accumulated Depreciation Common Stock Beginning Ba Beginning Balance 34,000 1. Ending Balance Ending Balance 34,000 Sales Revenue Salaries Expense Beginning Balance Beginning Balance Ending Balance Ending Balance Depreciation Expense