Cash$$24,000$Accumulated Depreciation, Equipment$25,000$Accounts Receivable$25,000$Wages Payable$6,000$Supplies$50,000$Accounts Payable$50,000$Prepaid Insurance$3,000$Common Shares$75,000$Inventory$46\mathrm{.}500$Retained Earnings$67,500$Equipment$75,000$Question $2$ of $4$During $2024,$ the following transactions occurred:$1.$ Sales of paninis for cash were $$631,000,$ and sales of paninis on account were $$60,000.$Purchases of ingredients were $$170,000,$ all on account.Collections from customers for sales on account totalled $$17,500.$The company paid $$43,700$ for utilities expenses.Ingredients with a cost of $$200,000$ were used in paninis that were sold$\mathrm{.}6.$ Payments for ingredients purchased on account totalled $$214,000\mathrm{.}7.$ The company paid $$92,300$ for wages$\mathrm{.}8.$ A dividend of $$34,000$ was declared and paid at the end of the year.Information for adjusting entries:$9.$ The balance in the Supplies account at the end of $2024$ was $$1,200\mathrm{.}10.$ Wages owed to employees at the end of $2024$ were $$3,400\mathrm{.}11.$ At the end of $2024,$ the account balance in Prepaid Insurance was $$1,500\mathrm{.}12.$ The equipment had an estimated useful life of eight years with a residual value of $$3,000.$

Enter the beginning balances from $2023,$ post the $2024$ entries, and calculate the balance in each account. $($Post entries in the order of journal entries presented in the previous part. If beginning balance is zero, enter $0$ in the column for the normal balance for that account.$)$

Cash

Accounts Receivable

$(1)$

Supplies