Award: 16.66 points Exercise 2-3 (Algo) T-accounts and trial balance [LO2-4] The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 32,000 shares of common stock in exchange for $320,000 in cash. 2. Purchased equipment at a cost of $42,000 $11,000 cash was paid and a notes payable to the seller was signed for the balance owed. 3. Purchased Inventory on account at a cost of $82,000. The company uses the perpetual Inventory system. 4. Credit sales for the month totaled $130,000. The cost of the goods sold was $72,000. 5. Paid $5,200 in rent on the warehouse building for the month of March. 6. Paid $6,200 to an Insurance company for fire and liability Insurance for a one-year period beginning April 1, 2021. 7. Paid $72,000 on account for the merchandise purchased in 3. 8. Collected $57,000 from customers on account. 9. Recorded depreciation expense of $1,200 for the month on the equipment. Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zero. Prepare a trial balance from the ending account balances. Complete this question by entering your answers in the tabs below. T Accounts Trial Balance Prepare a trial balance from the ending account balances. Trial Balance Account Title Debits Credits Totals < T Accounts Trial Balance >