The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances: Credits Debits 33,200 10,500 16,000 Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 4,800 6,250 41,500 7,150 59,700 59,700 The following is a summary of the transactions for the year: a. Service revenue, $104,000, of which $31,200 was on account and the balance was received in cash. b. Collected on accounts receivable, $22,300. c. Issued shares of common stock in exchange for $8,000 in cash. d. Paid salaries, $37,750 (of which $6,250 was for salaries payable at the end of the prior year). e. Paid miscellaneous expense for various items, $20,400. f. Purchased equipment for $10,500 in cash. g. Paid $2,475 in cash dividends to shareholders. 1. Accrued salaries at year-end amounted to $755. 2. Depreciation for the year on the equipment is $1,600. Required: 2., 5, & 8. Prepare the summary, adjusting and closing entries for each of the transactions listed. 3. Post the transactions, adjusting and closing entries into the appropriate t-accounts. 1 Dr tad trial balan