13 Required information. [The following information applies to the questions displayed below.] The following post-closing trial balance was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 1. Debit Credit Cashi $6,450 Accounts receivable 18,480 Allowance for doubtful accounts $1,820 Inventory 22,700 ed Accounts payable 7,960 Common stock 21,300 Retained earnings 16,550 Totals $47,630 $47,630 Transactions for Year 2 im rint D rences 1. LGS acquired an additional $11,700 cash from the issue of common stock. 2. LGS purchased $59,800 of inventory on account. 3. LGS sold inventory that cost $61,500 for $94,300. Sales were made on account. 4. The company wrote off $1,030 of uncollectible accounts. 5. On September 1, LGS loaned $7,000 to Eden Company The note had an 6 percent interest rate and a one-year term. 6. LGS paid $15,640 cash for operating expenses. 7. The company collected $85,470 cash from accounts receivable. 8. A cash payment of $45,740 was paid on accounts payable. 9. The company paid a $5,600 cash dividend to the stockholders. 10. Accepted credit cards for sales amounting to $3,800. The cost of goods sold was $2,000. The credit card company charges a 5 percent service charge. The cash has not been received. 11. Uncollectible accounts are estimated to be 2 percent of sales on account. 12. Recorded the accrued interest at December 31, Year 2. b. Open T-accounts and record the beginning balances and the Year 2 transactions. (Round your answers to nearest whole dollar.)