correct this using this info Powell Company began the Year 2 accounting period with $18,100 cash, $60,400 inventory, $49,000 common stock, and $29,500 retained earnings. During Year 2, Powell experienced the following events:

1. Sold merchandise that cost $37,500 for $76,100 on account to Prentise Furniture Store.
2. Delivered the goods to Prentise under terms FOB destination. Freight costs were $390 cash.
3. Received returned goods from Prentise. The goods cost Powell $1,930 and were sold to Prentise for $3,990.
4. Granted Prentise a $1,100 allowance for damaged goods that Prentise agreed to keep.
5. Collected partial payment of $52,200 cash from accounts receivable.

\begin{tabular}{|c|c|c|c|c|c|} \hline No & Event & \multicolumn{2}{|c|}{ General Journal } & Debit & Credit \\ \hline \multirow[t]{2}{*}{ A } & 1a. & Accounts receivable & 2 & 76,100 & \\ \hline & & Sales revenue & 2 & & 76,100 \\ \hline \multirow[t]{2}{*}{B} & 1b. & Cost of goods sold & 2 & 37,500 & \\ \hline & & Inventory & 2 & & 37,500 \\ \hline \multirow[t]{2}{*}{ C } & 2. & Operating expenses & x & 390 & \\ \hline & & Cash & 2 & & 390 \\ \hline \multirow[t]{2}{*}{ D } & 3a. & Accounts payable & & 3,990 & \\ \hline & & Accounts receivable & 2 & & 3,900 \\ \hline \multirow[t]{2}{*}{E} & 3b. & Inventory & 2 & 1,930 & \\ \hline & & Cost of goods sold & 2 & & 1,930 \\ \hline \multirow[t]{2}{*}{F} & 4. & Selling \& admin. expenses & & 1,100 & \\ \hline & & Accounts receivable & 2 & & 1,100 \\ \hline \multirow[t]{2}{*}{ G } & 5. & Cash & 2 & 52,200 & \\ \hline & & Accounts receivable & 2 & & 52,200 \\ \hline \end{tabular}