Journal Entries, Posting Sony Corporation is a leading international supplier of audio and video equipment. The Sony annual report at the end of the 2002 fiscal year included the following balance sheet items (Japanese yen in billions):

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Cash Receivables Prepaid expenses Land Accounts payable, trade 713 1,118 419 188 697 Consider the following assumed transactions that occurred immediately subsequent to the balance sheet date (Japanese yen in billions): b. Purchase of land for cash a. Collections from customers 820 20 c. Purchase of insurance policies on account 12 590 d. Disbursements to trade creditors 1. Enter the five account balances in T-accounts. 2. Journalize each transaction. 3. Post the journal entries to T-accounts. Key each posting by transaction letter.