Started the company when it acquired $20,000 cash from the issue of common stock. purchased a new cooktop that cost $19,000 cash. earned $33,000 in cash revenue. paid $17,000 cash for salaries expense. paid $7,100 cash for operating expenses. adjusted the records to reflect the use of the cooktop. the cooktop, purchased on january 1, year 1, has an expected useful life of four years and an estimated salvage value of $2,000. use straight-line depreciation. the adjusting entry was made as of december 31, year 1.

Mesa company produces wooden rocking chairs. the company has two production departments, cutting and assembly. the wood is cut and sanded in cutting and then transferred to assembly to be assembled and painted. from assembly, the chairs are transferred to finished goods inventory and then are sold.mesa has compiled the following information for the month of february: cutting department assemblydepartmentdirect materials $ 73,000 $ 13,000direct labor 73,000 108,000applied manufacturing overhead 159,000 171,000cost of goods completed and transferred out 233,000 255,000required: 1, 2, 3, & 4. prepare journal entries for the transactions in the cutting and assembly departments of mesa company. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)