During 2022 , the following transactions occurred. Ivanhoe uses a perpetual imventory system. 1. Ivanhoe paid $2,300 interest on the bonids on January 1.2022. 2. Ivanhoe purchased $242,200 of irventory on acccunt 3. Ivanhoe sold for $445,700 cash inventory which cost $250,800. Ivanhoe also collected $26,742 sales taxes. 4. Ivanhoe paid $228,100 on accounts payable. 5. The prepaid insurance ($5,000) expired on July 31 . 6. On August 1, Ivanhoe pald \$12,000 for insurance coverage from August 1, 2022, through July 31,2023. 7. Ivanhoe paid $24,600 sales takes to the state 8. Paid other operating expenses, $90,300. 9. Redeemed the bonds on December 31,2022, by paying $44,160 plus $2,300 interest. 10. Issued $90,700 of 8% bonds on December 31,2022 at 103. The bonds pay interest every June 30 and December 31 . Adjustment data; 1. Recorded the insurance expired from item 6 . 2. The equipment was acquired on December 31,2021 , and will be depreciated on a straight-line basts over 5 years with a $9.000 salvage value. No. Account Titles and Explanation Debit Credit 1. Interst Payable 2. Imventory \begin{tabular}{|} \hline & 242200 \\ \hline \end{tabular} Account Payable 3. Cash 472442 Sales Revenue Sald tavs Payable (To record sales revenue.) cos0+Gosos sold irwentory (To record cost of goods sold.) 4. Accounts Payable 228100 5. 6. 7. Prepare the adjusting entries. (Credit account titles are dutomatically indented when the amount is entered. Do not indent manually If no entry is required, select "No Entry" for the account titles and enter O for the amounts. If no entry is required, select "No entry" for the occount titles and enter 0 for the amounts.)