Crane had the following account balances at December 31,2023 : During 2024, the following transactions occurred: 1. 5ales of paninis for cash were \$661,000, and sales of paninis on account were \$60,000, 2. Purchases of insedients were $178,000 all on account: 3. Collections from customers for sales on arcount totalled $18300 4. The company paid $45,800 for utilies expeces. 5. Ingredients with a cost of \$200,000 were used in paninis that were sold: 6. Payments for inpredients purchased on account totalled $224,000. 7. The company paid $96000 for wages. B. Advidend of $35.600 wss declared and paid at the end of the year. Information for adiuntingentries: 9. The batarce in the supplies accoum at the end of 2024 was $1,200. 10. Wages owed to emploves at the end of 2024 were $3560 11. At the end of 2024, the account balance in Prepaid Insirrance was $1.500 Informstion for adjusting entries: 9. The balance in the supplies account at the end of 2024 was $1,200. 10. Wages owed to emplovees at the end of 2024 were $3,560. 11. At the end of 2024, the account balance in Prepaid Insurance was $1,500. 12. Ithe equipment had an estimated useful tife of eight years with a residual value of 53000 , (a) Prepare journal entries for transactions 1 through 8. Create new accounts as necessary. (List all debit entries before credif entries. Credit account titles are automatically indeated when the amount is entered. Do not indent manvaliy. If no entry is required, select 'No Entry" for the occount titles and enter ofor the amounts.)