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Milea Incorporated experienced the following events in Year 1, its first year of operations:

1. Received $13,000 cash from the issue of common stock.
2. Performed services on account for $45,000.
3. Paid the utility expense of $1,350.
4. Collected $33,540 of the accounts receivable.
5. Recorded $5,250 of accrued salaries at the end of the year.
6. Paid a $1,500 cash dividend to the stockholders

1. Record the events in general ledger accounts under an accounting equation. In the last column of the table, provide appropriate account titles for the Retained Earnings amounts. The first transaction has been recorded as an example. (Not all cells require input. Enter any decreases to account balances with a minus sign.)

Required information [The following information applies to the questions displayed below.] Milea Incorporated experienced the following events in Year 1, its first year of operations: 1. Received $13,000 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,350. 4. Collected $33,540 of the accounts receivable. 5. Recorded $5,250 of accrued salaries at the end of the year. 6. Paid a $1,500 cash dividend to the stockholders. Required Record the events in general ledger accounts under an accounting equation. In the last column of the table, provide appropriate account titles for the Retained Earnings amounts. The first transaction has been recorded as an example. (Not all cells require input. Enter any decreases to account balances with a minus sign.)

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