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A: Received cash of $35,000 from the issue of common stock.

B: Performed $54,000 of services on account.

C:Incurred $7,700 of other operating expenses on account.

D:Paid $27,000 cash for salaries expense.

e: Collected $37,500 of accounts receivable.

f: Paid a $3,600 dividend to the stockholders.

G: Performed $10,100 of services for cash.

H: Paid $6,100 of the accounts payable.

The following events apply to Montgomery Company for Year 1, its first year of operation: 1. Received cash of $35,000 from the issue of common stock. 2. Performed $54,000 of services on account. 3. Incurred $7,700 of other operating expenses on account. 4. Pald $27,000 cash for salaries expense. 5. Collected $37,500 of accounts receivable. 6. Pald a $3,600 dividend to the stockholders. 7. Performed $10,100 of services for cash. 8. Pald $6,100 of the accounts payable. Required a. Record the preceding transactions in general Journal form. b. Post the entries to T-accounts and determine the ending balance in each account. c. & d. Determine the amount of total assets at the end of Year 1, and the amount of net Income for Year 1. Complete this question by entering your answers in the tabs below. Req A Reg B Reg C and D Record the preceding transactions in general journal form. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Received cash of $35,000 from the issue of common stock. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal

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