he following events apply to Montgomery Company for Year 1, its first year of operation: Received cash of $31,000 from the issue of common stock. Performed $50,000 of services on account. Incurred $6,900 of other operating expenses on account. Paid $23,000 cash for salaries expense. Collected $35,500 of accounts receivable. Paid a $3,200 dividend to the stockholders. Performed $9,700 of services for cash. Paid $5,700 of the accounts payable. Required a. Record the preceding transactions in general journal form. b. Post the entries to T-accounts and determine the ending balance in each account. c.