Problem 1-34 Recording events in a horizontal statements model LO 1-2, 1-3, 1-4,1-5,1-6,1-7 [The following information applies to the questions displayed below. Davidson Company was started on January 1, 2014, and experienced the following events during its first year of operation: 1. Acquired $34,000 cash from the issue of common stock. 2. Borrowed $46,000 cash from National Bank. 3. Earned cash revenues of $62,000 for performing services. 4. Paid cash expenses of $52,000. 5. Paid a $2,400 cash dividend to the stockholders. 6. Acquired an additional $34,000 cash from the issue of common stock. 7. Paid $12,000 cash to reduce the principal balance of the bank note. 8. Paid $47,000 cash to purchase land. 9. Determined that the market value of the land is $66,000