For each of the following transactions, prepare journal entries: (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 O for the amounts.) b. 0. h k m The company issued common shares for $155,000. The company borrowed $77,000 from a bank. (Use Bank Loan Payable) Inventory costing $49,300 was purchased on account. Rented a retail space and paid a damage deposit of $10,000. Received a bill for advertising costs of $3,500 related to the grand opening. Paid employees wages of $16,600. Inventory costing $34,800 was sold for $69,900, half for cash and half on account. (Hint: Two journal entries are required.) A payment of $44,000 was made on accounts payable. Accounts receivable totalling $19,800 were collected. New equipment costing $112,000 was purchased for cash. The company paid $17,600 on its bank loan, which included $9,700 of interest. The company paid $8,300 for the monthly rent on its retail location. The company's board declared and paid dividends of $11,000. n. Paid the advertising bill related to the grand opening (see transaction (e)). No. Account Titles and Explanation a b. c. d. e. f. g Debit Credit h. (To record the cost) j. k. 1. m. n