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The general ledger of the Karlin Company, a consulting company, at January 1, 2013, contained the following account balances: Account Title Debits Credits Cash 30,000

The general ledger of the Karlin Company, a consulting company, at January 1, 2013, contained the following account balances:

Account Title Debits Credits
Cash 30,000
Accounts receivable 15,000
Equipment 20,000
Accumulated depreciation 6,000
Salaries payable 9,000
Common stock 40,500
Retained earnings 9,500


Total 65,000 65,000

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

a. Sales of services, $100,000, of which $30,000 was on credit.
b. Collected on accounts receivable, $27,300.
c. Issued shares of common stock in exchange for $10,000 in cash.
d. Paid salaries, $50,000 (of which $9,000 was for salaries payable).
e. Paid miscellaneous expenses, $24,000.
f. Purchased equipment for $15,000 in cash.
g. Paid $2,500 in cash dividends to shareholders.

1. Accrued salaries at year-end amounted to $1,000.
2. Depreciation for the year on the equipment is $2,000.

Required:
1.

Prepare a general journal entry for each of the summary transactions listed above.

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