Following are all of the transactions affecting Zimmerle's Zippers during 2023: Jan. 1: Zimmerle's Zippers Co. received $10,000 cash in exchange for Common Stock to open the business March 5: Zimmerle's Zippers bought $3,000 of merchandise on account, terms n/365. August 12: Zimmerle's Zippers sold $2,000 worth of merchandise for $3,000 cash. December 15: Zimmerle's Zippers paid salaries of $500. This one Would have cash since we pay These are the only transactions the company entered into during the year. There were no adjusting journal entries Zimmerle uses the perpetual inventory method