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Accounting

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:
Received $12,000 cash from the issue of common stock.
Performed services on account for $45,000.
Paid the utility expense of $1,050.
Collected $31,620 of the accounts receivable.
Recorded $6,400 of accrued salaries at the end of the year.
Paid a $1,100 cash dividend to the stockholders.
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