Required information [The following information applies to the questions displayed below) Alcor Service Company was formed on January 1, Year 1 Events Affecting the Year 1 Accounting Period 1. Acquired $72,000 cash from the issue of common stock 2. Purchased $3,600 of supplies on account. 3. Purchased land that cost $42,000 cash 4. Paid $3,600 cash to settle accounts payable created in Event 2 5. Recognized revenue on account of $66,000 6. Paid $33,000 cash for other operating expenses 7. Collected $50,000 cash from accounts receivable Information for Year 1 Adjusting Entries B. Recognized accrued salaries of $4,400 on December 31, Year 1., 9. Had $1,400 of supplies on hand at the end of the accounting period Events Affecting the Year 2 Accounting Period 1. Acquired $32,000 cash from the issue of common stock 2. Paid $4,400 cash to settle the salaries payable obligation 3. Paid $7,200 cash in advance to lease office space 4. Sold the land that cost $42,000 for $42,000 cash. 5. Received $8,400 cash in advance for services to be performed in the future. 6. Purchased $2,200 of supplies on account during the year 7. Provided services on account of $44,000. B. Collected $45.000 cash from accounts receivable Check my work