GDP 11 Sudents Students Home Ch5Homework https Ch 5 Homework 9 0 Required information The folowing information applies to the questions displayed below Sage loc experienced the following transactions for 2018, its first year of operations Pert 1 of 3 10 points 1. Issued common stock for $50,000 cash 2 Purchased $140,000 of merchandise on account 3. Sold merchandise that cost S10,000 for $250,000 on account 4 Collected $236,000 cash from accounts receivable 5. Paid $118,000 on accounts payable 6 Paid $50,000 of salaries expense for the year Book Paid other operating expenses of $28.000 8. Sage adjusted the accounts using the following information from an accounts recevable aging schedule Number of Percent Likely to Allowance Days Past Due Amount Be Uncollectible Balance Current - 31-68 61-90 Over 90 days $10,800 2,090 1,200 500 e.01 8.e5 8.10 0.20 3e0 0.5e