Ch 4 Ex & Prob Saved Help Save & Exit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion Return to que 1 Exercise 4-4A Recording Inventory transactions in the general Journal and posting entries to T-accounts: Perpetual system LO 4-1 9 points Milo Clothing experienced the following events during Year 1, its first year of operation: 1. Acquired $15,000 cash from the issue of common stock. 2. Purchased inventory for $6,900 cash. 3. Sold inventory costing $4,140 for $7,038 cash. 4. Paid $700 for advertising expense. Required a. Record the general journal entries for the preceding transactions. b. Post each of the entries to T-accounts. c. Prepare a trial balance to prove the equality of debits and credits. Answer is not complete Complete this question by entering your answers in the tabs below. Ex & Prob Saved Help Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate com Post each of the entries to T-accounts. Cash Beg. Bal. 1 Beg. Bal 0 15,000 7,038 0 6,900 700 Merchandise Inventory 0 0 2,760 04 0 0 0 2,760 3a. End Bal 14,438 End Bal Sales Revenue Beg Bal Beg. Bal Common Stock 0 0 0 15,000 0 0 1 OOO OOO OO OOO End. Bal 15,000 End. Bal Beg. Bal. Cost of Goods Sold 0 0 0 0 Beg Bal Advertising Expense 0 0 700 0 0 0 700 0 0 End. Bal End. Bal Prey 1 of 3 Next >