6. Journal Entries The chart of accounts for Anderson Company, a wholesale merchant who uses the accrual basis of accounting and periodic inventory, is as follows: A Cash K Notes Payable B Accounts Receivable L. Deferred Income C. Reserve for Bad Debts M Capital Stock D. Marketable Securities N. Retained Eamings E Inventory O Sales F. Equipment P. Cost of Goods Sold G Accumulated Depreciation Q. Other Income Accounts H. Prepaid Expenses R. L Accounts Payable S. Various General & Administrative Expense Accounts Income Tax Expense J. Corporate Taxes Payable For the monthly transactions listed below, indicate (by letter) the account(s) that should be debited AND credited: 1. Merchandise for resale is purchased on credit 2. Payment is received for merchandise previously sold 3. Marketable securities are sold at a gain 4. Payment is made for the merchandise purchased on credit 5. Bills for telephone and office supplies are received but not paid 6. A truck is purchased and the seller accepts a note in addition to the cash down payment 7. Depreciation is recorded on the truck Debit Credit 8. The office rent for the current month is paid 9. Merchandise is sold on credit 10. While reconciling the bank statement, it is discovered that the rent expense check for $500 was recorded in the journal as $5,000 and a correction entry is made 11. Salesman's commissions were improperly recorded as salaries and a correction entry is made 12. Accrued income taxes are paid