Required: Prepare the adjusting journal entries that were recorded at December 31, 2021 The general ledger of the Karlin Company, a consulting company, at January 1.2021. contained the account balances: Account Title Debits Credits 30,000 15,000 20,000 Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 6,000 9,000 40,500 9.500 65,000 65,000 The following is a su u sactions for the year: a. Service revenue, S u ch 50,000 was on account and the balance was received in cash b. Collected on accounts receivable, $27,300. c. Issued shares of common stock in exchange for $10,000 in cash. d. Paid salaries, $50,000 (of which $9,000 was for salaries payable at the end of the prior year). e. Paid miscellaneous expense for various items, $24,000. f. Purchased equipment for $15,000 in cash. g. Paid $2,500 in cash dividends to shareholders. Required: 1. Set up the necessary T-accounts and enter the beginning balances from the trial balance. 2. Prepare a general journal entry for each of the summary transactions listed above