The general ledger of the Karlin Company, a consulting company, at January 1, 2016, contained the following account balances:

Account Title	Debits	Credits
Cash	28,700
Accounts receivable	18,000
Equipment	31,000
Accumulated depreciation		9,300
Salaries payable		10,000
Common stock		49,000
Retained earnings		9,400
Total	77,700	77,700

The following is a summary of the transactions for the year:

a.	Sales of services, $134,000, of which $40,200 was on credit.
b.	Collected on accounts receivable, $26,800.
c.	Issued shares of common stock in exchange for $16,000 in cash.
d.	Paid salaries, $49,000 (of which $10,000 was for salaries payable).
e.	Paid miscellaneous expenses, $26,400.
f.	Purchased equipment for $18,500 in cash.
g.	Paid $3,250 in cash dividends to shareholders.

1.	Accrued salaries at year-end amounted to $980.
2.	Depreciation for the year on the equipment is $3,100.

12.

Required information

Required:

2., 5, & 8.

Prepare the summary, adjusting and closing entries for each of the transactions listed.