The following events apply to Pearson Service Co. for Year 1, its first year of operation: 1. Received cash of $60,000 from the issue of common stock. 2. Performed $115,000 worth of services on account. 3. Paid $79,000 cash for salaries expense. 4. Purchased supplies for $17,000 on account. 5. Collected $93,000 of accounts receivable. 6. Paid $12,500 of the accounts payable. 7. Paid a $6,000 dividend to the stockholders. 8. Had $2,000 of supplies on hand at the end of the period. Required a. Record these events in general journal form. b. Post the entries to T-accounts and determine the ending balance in each account. c. Determine the amount of total assets at the end of Year 1. d. Determine the amount of net income for Year 1. Complete this question by entering your answers in the tabs below. Required A Record these events in general journal form. (If no entry is required for a event, select "No journal entry required" in the first account field.) View transaction list Required B Required C Required D Journal entry worksheet

The following events apply to Pearson Service Co, for Year 1, its first year of operation: 1. Recelved cash of $60,000 from the issue of common stock. 2. Performed $115,000 worth of services on account. 3. Pald $79,000 cash for salaries expense. 4. Purchased supplies for $17,000 on account. 5. Collected $93,000 of accounts recelvable. 6. Paid $12,500 of the accounts payable. 7. Paid a $6,000 dividend to the stockholders. 3. Had $2,000 of supplies on hand at the end of the period. Required a. Record these events in general journal form. b. Post the entries to T-accounts and determine the ending balance in each account. c. Determine the amount of total assets at the end of Year 1. d. Determine the amount of net income for Year 1. Complete this question by entering your answers in the tabs below. Record these events in general journal form. (If no entry is required for a event, select "No journal entry required" in the first account field.) Journal entry worksheet B C D E F G H Received cash of $60,000 from the issue of common stock. wite: ener detins toctore credits. The following events apply to Pearson Service Co. for Year 1, its first year of operation: 1. Received cash of $60,000 from the issue of common stock. 2. Performed $115,000 worth of services on account. 3. Paid $79,000 cash for salaries expense. 4. Purchased supplies for $17,000 on account. 5. Collected $93,000 of accounts receivable. 6. Paid $12,500 of the accounts payable. 7. Paid a $6,000 dividend to the stockholders. 8. Had $2,000 of supplies on hand at the end of the period. Required a. Record these events in general journal form. b. Post the entries to T-accounts and determine the ending balance in each account. c. Determine the amount of total assets at the end of Year 1. d. Determine the amount of net income for Year 1. Journal entry worksheet D E F G Received cash of $60,000 from the issue of common stock. Note: Enter debits before credits. Journal entry worksheet Performed $115,000 worth of services on account. Note: Enter debits before credits. Journal entry worksheet Paid $79,000 cash for salaries expense. Note: Enter debits before credits. Journal entry worksheet Purchased supplies for $17,000 on account. Note: Enter debits before credits. Journal entry worksheet Collected $93,000 of accounts receivable. Note: Enter debits before credits. Journal entry worksheet Journal entry worksheet Paid a $6,000 dividend to the stockholders. Note: Enter debits before credits. Journal entry worksheet A B C D E F Had $2,000 of supplies on hand at the end of the period. Note: Enter debits before credits. Post the entries to T-accounts and determine the ending balance in each account. Determine the amount of total assets at the end of Year 1. Complete this question by entering your answers in the tabs below. Determine the amount of net income for Year 1