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Valmont, Inc, experienced the following events in 2012, in its first year of operation

Accounting

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Valmont, Inc, experienced the following events in 2012, in its first year of operation.

1. Received $26,000 cash from the issue of common stock.

2. Performed services on account for $46,000.

3. Paid the utility expense of $4,100.

4. Collected $42,000 of the accounts receivable.

5. Recorded $8,600 of accrued salaries at the end of the year.

6. Paid a $2,600 cash dividend to the shareholders.

Required:

Record the events in general ledger accounts under an accounting equation.