The following transactions apply to Hooper Co. for Year 1, its first year of operations:
Issued $110,000 of common stock for cash.
Provided $102,000 of services on account.
Collected $88,000 cash from accounts receivable.
Loaned $13,000 to Mosby Co. on November 30, Year 1. The note had a one-year term to maturity and a 6 percent interest rate.
Paid $34,000 of salaries expense for the year.
Paid a $2,500 dividend to the stockholders.
Recorded the accrued interest on December 31, Year 1 (see item 4).
Estimated that 1 percent of service revenue will be uncollectible.
Required
Show the effects of these transactions in a horizontal statements
