The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances Account Title Debits Credits Cash 33,200 Accounts receivable 10,500 Equipment 16,000 Accumulated depreciation 4,800 Salaries payable 6,250 Common stock 41,500 Retained earnings 7,150 Total 59,700 59,700 The following is a summary of the transactions for the year Service revenue, $104,000, of which $31,200 was on account and the balance was received in cash Collected on accounts receivable, $22,300 Issued shares of common stock in exchange for $8,000 in cash Paid salaries, $37,750 (of which $6,250 was for salaries payable at the end of the prior year) Paid miscellaneous expense for various items, $20,400 Purchased equipment for $10,500 in cash Paid $2,475 in cash dividends to shareholders Accrued salaries at year end amounted to $755 Depreciation for the year on the equipment is $1,600 Required 3 Post the transactions, adjusting and closing entries into the appropriate t accounts Post the transactions, adjusting and closing entries into the appropriate l accounts Enter the letter of the tra column next to the amount ) Caah 33 200 Accounts Receivable 10,500 Beg bal Deg bal End bal 33,200 End Exal 10,500 Equipment 16,000 Accumulated Depreciation 4,800 Beg bal Beg bal End, bal 16,000 End bal 4 800 Salarles Payable 6,250 Common stock 41,500 Beg bal Beg bal End bal 6,250 End bal 41,500 Dividende Retained Earnings 7,150 Beg bal Beg bal al End, bal 7,150 End bal Service Revenue Miscellaneous expense Beg bal Beobal End bal End, bal Depreciation Expense salarlas Expense Beg , bal Beg bal End bal A

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The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances: Account Title Debits Credits Cash 33,200

The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances:

Account Title	Debits	Credits
Cash	33,200
Accounts receivable	10,500
Equipment	16,000
Accumulated depreciation		4,800
Salaries payable		6,250
Common stock		41,500
Retained earnings		7,150
Total	59,700	59,700

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

Service revenue, $104,000, of which $31,200 was on account and the balance was received in cash.
Collected on accounts receivable, $22,300.
Issued shares of common stock in exchange for $8,000 in cash.
Paid salaries, $37,750 (of which $6,250 was for salaries payable at the end of the prior year).
Paid miscellaneous expense for various items, $20,400.
Purchased equipment for $10,500 in cash.
Paid $2,475 in cash dividends to shareholders.

Accrued salaries at year-end amounted to $755.
Depreciation for the year on the equipment is $1,600.

Required:

3. Post the transactions, adjusting and closing entries into the appropriate t-accounts. image text in transcribed

Post the transactions, adjusting and closing entries into the appropriate l-accounts. Enter the letter of the tra column next to the amount.) Caah 33.200 Accounts Receivable 10,500 Beg. bal. Deg. bal. End. bal. 33,200 End. Exal 10,500 Equipment 16,000 Accumulated Depreciation 4,800 Beg. bal. Beg. bal. End, bal. = 16,000 End. bal. 4.800 Salarles Payable 6,250 Common stock 41,500 Beg. bal. Beg. bal. End. bal. 6,250 End. bal. 41,500 Dividende Retained Earnings = 7,150 Beg. bal. Beg. bal. al End, bal 7,150 End. bal. Service Revenue Miscellaneous expense Beg. bal. Beobal End. bal. End, bal. Depreciation Expense salarlas Expense Beg., bal. Beg. bal. End. bal. A