1 ports Exercise 4-4A Recording inventory transactions in the general journal and posting entries to T-accounts: Perpetual system LO 4-1 Mio Clothing experienced the following events during Year 1, its first year of operation 1. Acquired $17.000 cash from the issue of common stock 2. Purchased inventory for $5,900 cash 3. Sold inventory costing $3,540 for $6,018 cash 4. Pald $950 for advertising expense Required a. Record the general Journal entries for the preceding transactions b. Post each of the entries to T-accounts c. Prepare a trial balance to prove the equality of debits and credits Answer is not complete Answer is not complete. Complete this question by entering your answers in the tabs below. nits Required A Required B Required Record the general journal entries for the preceding transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) No Event General Journal Debit Credit 1 01 Cash 17.000 Common stock 17,000 * 2 02 Merchandise inventory Cash 5.900 5.900 3 30 Cash Sales revenue 6,018 6,018 4 36 Cost of goods sold Merchandise inventory 3,540 3.540 5 04 Advertising expense Cash 950 950 ru Required 8 > Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Post each of the entries to T-accounts. Cash Merchandise Inventory Beg Bal Beg. Bal 3,5403b. 5,900 2 9504 2 5,900 1 3a End. Bal 17,000 6,018 16.168 End. Bal 2.360 Common Stock Sales Revenue Beg Bal Beg Bal 17.000 1. > 6,0183 > 17,000 End. Bal 6,018 End. Bal Cost of Goods Sold Advertising Expense Beg Bal Beg Bal 4 950 36 3,540 3,540 End. Bal 950 End. Bal