A B Events Beginning Balances as of Dec 31, Year 1 1 Paid a $42.000 cash dividend previously declared for stockholders 2 Paid wages payable accrued in previous month 3 Acquired $150,000 by signing a note payable with a local bank 4 Sold 5,000 shares of $5 par Common Stock for $110,000 s Sold 2,000 shares of $40 par, 3% cumulative preferred stock for $120,000 Purchased a truck and piece of Equipment for $128,000. The truck has a market 6 value of 65.000 and the equipment has a market value of 95,000. 7 Purchased 25,000 Units of Inventory on Account for $8.15 per unit Sold 45,000 units at $24.50 on Account - Revenue 9COGS on sale of 45000 units 10 Collect $570,000 on Account 11 Paid $540,250 of Accounts Payable 12 Purchased 70,000 Units of Inventory on Account for $8.50 per unit 13 Sold 75.000 units at $24.50 on Account 14 Record COGS for Sales of 75,000 units on Account 15 Collect $1,472,500 on Account 16 Paid $438,500 of Accounts Payable 17 Purchased 115,000 Units of Inventory on Account for $9.35 per unit 18 Sold 102,000 units at $24.50 19 Record COGS for Sale of 102,000 units 20 Collect $735,000 on Account 21 Paid $883,150 of Accounts Payable 7 22 Purchased 175,000 Units of Inventory on Account for $8.75 per unit 8 23 Paid Advertising and Marketing Expenses of $130,000 924 Paid Fixed Operating Expenses of $275,708 025 Paid Wages of $1,235,000 11 26 Record Wages Payable of $215,000 32 27 Paid Product Line Research & Development Expenses of $450.000 33 28 Principle & Interest on Note Payable 34 29 Year 1 Depreciation on Truck 35 30 Year 1 Depreciation on Equipment 36 31 Year 2 Depreciation on Building 37 32 Common Stock Dividend Declaration 38 33 Preferred Stock Dividend Declaration Balance at December 31, Yr 2 39 40 41