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Required information [The following information applies to the questions displayed below.] Milea Inc. experienced the following events in Year 1, its first year of
Required information [The following information applies to the questions displayed below.] Milea Inc. experienced the following events in Year 1, its first year of operations: 1. Received $13,000 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,150. 4. Collected $33,330 of the accounts receivable. 5. Recorded $8,850 of accrued salaries at the end of the year. 6. Paid a $800 cash dividend to the stockholders.
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