Homework - Static Saved Help Save & Exit Checkm Required information [The following information applies to the questions displayed below) The following events apply to Gulf Seafood for the Year 1 fiscal year. 1. The company started when it acquired $60,000 cash by issuing common stock 2. Purchased a new cooktop that cost $40,000 cash 3. Earned $72,000 in cash revenue 4. Paid $25.000 cash for salaries expense 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1 Year 1, the cooktop has an expected useful life of four years and an estimated salvage value of $4.000 Use straight-line depreciation. The adjusting entry was made as of December 31. Year 1 Required o. Record the events in general journal format and post to T-accounts Complete this question by entering your answers in the tabs below