Exercise 2-3 (Algo) T-accounts and trial balance [LO2-4) The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse 1. Issued 39,000 shares of common stock in exchange for $390,000 in cash. 2. Purchased equipment at a cost of $49,000 $14,500 cash was paid and a notes payable to the seller was signed for the balance owed 3. Purchased inventory on account at a cost of $96,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $165,000. The cost of the goods sold was $79,000. 5. Paid $5,900 in rent on the warehouse building for the month of March 6. Paid $6,900 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021 7. Paid $79,000 on account for the merchandise purchased in 3. 8. Collected $64,000 from customers on account 9. Recorded depreciation expense of $1,900 for the month on the equipment. Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zero. Prepare a trial balance from the ending account balances