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 $15,700 cash. 3. Earned $21,400 in cash revenue. 4. Paid $12,100 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 $3,100. Use straight-line depreciation. The adjusting entry was made as of December 31, Year 1. Journal entry worksheet < A B C D E Record entry for issuance of common stock. Note: Enter debits before credits. Event 1 General Journal Debit Credit Record entry Clear entry View general journal Post the events to T-accounts. Beginning Balance Cash Beginning Balance Equipment-Cooktop Ending Balance Ending Balance Accumulated Depreciation Common Stock Beginning Balance Beginning Balance Ending Balance Ending Balance Sales Revenue Salaries Expense Beginning Balance Beginning Balance nces Ending Balance Beginning Balance Ending Balance Ending Balance Depreciation Expense