Campus Stop Inc. is a student co$-$op$.$ On January $1$ of the current year, the beginning inventory was $$150,000,$ the trade receivables balance was $$4,000,$ and the allowance for doubtful accounts had a credit balance of $$800.$ Campus Stop uses a perpetual inventory system.

The following transactions $($summarized$)$ occurred during the current year:

a$.$ Sold merchandise for $$275,000$ cash; the cost of sales is $$137,500.$

b$.$ Purchased merchandise from vendors on credit, terms $\frac{3}{10},\frac{n}{30},$ as follows:

i$.$ August Supply Company, invoice price, $$5,000.$

ii$.$ Other vendors, invoice price, $$120,000.$

c$.$ Purchased equipment for use in store for cash, $$2,200.$

d$.$ Purchased office supplies for future use in the store; paid cash, $$700.$

e$.$ Paid freight on merchandise purchased, $$400$ cash.

f$.$ Paid accounts payable in full during the period as follows:

i$.$ Paid August Supply Company after the discount period, $$5,000.$

ii$.$ Paid other vendors within the discount period, $$116,400.$

Required:

Prepare journal entries for each of the preceding transactions. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

$\backslash$table$[[$Sold merchandise for $$275,000$ cash.$],[$Record the cost of sales of $$137,500.],[$Purchased merchandise from August Supply Company,$],[$invoice price, $$5,000.],[$Purchased merchandise from Other vendors, invoice$],[$price$,$ $$120,000.],[$Purchased equipment for use in store for cash, $$2,200.]]$