The company events apply to Gulf Seafood for Year 1 fiscal year:

1. The company started when it acquired $38,000 cash by issuing common stock.

2, Purchased a new cooktop that cost $15,800 cash.

3. Earned $21,000 in cash revenue.

4. Paid $13,500 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 unexpected useful life of five years and an estimated salvage value of $2,800. Use straight-line depreciation. The adjusting entry was mad as of December 31, Year 1.

Required

A. Record the events in gerneral format and post to T-accounts.