2. Accounting
3. the following is a summary of the transactions for the...

# Question: the following is a summary of the transactions for the...

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

1. January 24 Provide plumbing services for cash, $11,000, and on account,$56,000.
2. March 13 Collect on accounts receivable, $44,000. 3. May 6Issue shares of common stock in exchange for$10,000 cash.
4. June 30Pay salaries for the current year, $31,200. 5. September 15 Pay for utilities expenses,$11,200, of which $3,400 represents costs for 2017. 6. November 24 Receive cash in advance from customers,$6,400.
7. December 30 Pay $1,200 cash dividends to stockholders. 8. Depreciation for the year on the machinery is$4,400. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the$6,400 paid in advance by customers, \$5,200 of the work has been completed by the end of the year.