Evergreen Retail Company, whose fiscal year end is December 31, had the following transactions in its first year of operations: 1. Issued common shares for $85,000 cash on January 1, 2020. 2. Borrowed $20,000 of additional financing from the bank on January 1, 2020. (Use Bank Loan Payable) 3. Bought equipment for $25,000 cash, also on January 1, 2020. Made $64,000 of inventory purchases on account. 4. 5. 6. 7. Had total sales of $95,000, of which $28,000 were on account. The cost of the products sold was $44,000. Bought supplies for $1,300 cash. Collected payments of $24,400 from customers on their accounts. 8. Paid suppliers $26,000 for the inventory that had been purchased on account. 9. Paid employees $36,700. 10. Paid the interest on the bank loan on December 31, 2020. The interest rate was 8%. 11. Declared dividends of $7,000, which will be paid in 2021. Information for adjusting entries: 12. The equipment purchased on January 1 has an estimated useful life of eight years and an estimated residual value of $1,000 at the end of its life. 13. Supplies costing $170 were still on hand at the end of the year. 14. Wages in the amount of $1,300 were owed to employees at the end of the year. These will be paid early in 2021. Prepare journal entries for transactions 1 through 11. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Accum Titles and Explanation Deb Credi 2 3 10 (To recond sale of good (a reced the cost)