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The following informetion applies to the questlons displayed below] The general ledger of the Karlin Company,a consulting company, at January 1, 2016,contained the following account balances Debits Credits Cash Accounts recevable 5.000 25.000 Salaries payable Common stock Retained earnings 7.500 8,500 46,000 8.500 Total 70,500 70,500 The following is a summary of the transactions for the year a. Sales of services, $122,000, of which $36,600 was on credit b. Collected on accounts receivable, $25.000 c. Issued sheres of common stock in exchange for $13.000 in cash d. Paid salartes, $44,500 (of which $8,500 wes for salaries payable). e. Pald miscelleneous expenses, $24,000 t Purchased equipment for $15,500 in cash g Paid $2,950 in cash dividends to shareholders 1 Accrued salantes et year-end amounted to $890 2. Depreciaton for the year on the equrpment Is $2.500 13 0 points 5.00 points entry is required for a transactionlevent, select No journal entry required" in the first account field.)