The following information applies to the questions displayed below Ohlo Mining Company was formed on January 1, 2010 Events Affecting the 2010 Accounting Period 1. Acqulred cash of $62,000 from the issue of common stock. 2. Purchased $1,800 of supplles on account. 3. Purchased land that cost $22,000 cash. 4. Pald $1,800 cash to settle accounts payable created in Event 2 5. Recognized revenue on account of $70,000. 6. Pald $24,000 cash for other operating expenses. 7. Collected $48,000 cash from accounts recelvable Information for 2010 Adjusting Entries 8. Recognized accrued salaries of $2,300 on December 31, 2010 9. Had $220 of supplies on hand at the end of the accounting period. Events Affecting the 2011 Accounting Period 1. Acqulred an additlonal $22,000 cash from the issue of common stock. 2. Pald $2,300 cash to settle the salaries payable obligation. 3. Pald $3,750 cash in advance for a lease on office facilltles 4. Sold the land that cost $22,000 for $22.000 cash. 5. Recelved $5,700 cash In advance for services to be performed In the future 6. Purchased $1,400 of suppliles on account during the year 7. Provided services on account of $58,000 8. Collected $63,000 cash from accounts recelvable 9. Pald a cash dividend of $5,200 to the stockholders. Information for 2011 Adjusting Entries 10. The advance payment for rental of the office facilitles (see Event 3) was made on September 1 for a one year lease term. 11. The cash advance for services to be provided In the future was collected on June 1 (see Event 5). The one-year contract started June 1 12. Had $220 of supplies on hand at the end of the perlod 13. Recognized accrued salarles of $3,400 at the end of the accounting perlod