$[$The following information applies to the questions displayed below.$]$

The following events apply to Gulf Seafood for the Year $1$ fiscal year:

The company started when it acquired $$39,000$ cash by issuing common stock

Purchased a new cooktop that cost $$14,000$ cash.

Earned $$19,200$ in cash revenue.

Paid $$13,500$ cash for salaries expense.

Adjusted the records to reflect the use of the cooktop. Purchased on January $1,$ Year $1,$ the cooktop has an expected useful life of five years and an estimated salvage value of $$3,200.$ Use straight$-$line depreciation. The adjusting entry was made as of December $31,$ Year $1.$

Required

a$.$ Record the events in general journal format and post to T$-$accounts. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

Journal entry worksheet

Record entry for issuance of common stock.

Note: Enter debits before credits.

Prev

$5,6,7,$dots,$10$

of $20$

Next $>$