Jay's Company has been in business since 2020 and has December 31 fiscal year end. It uses a perpetual inventory system and straight-line depreciation method. Beginning balance of permanent accounts are shown on the T-accounts. Beginning inventory consists of 300 units of merchandises with unit cost of $40. The following transactions and events occurred during the fiscal year 2021. Jan. 10 Purchased 400 units of merchandises at $50 each on account. Feb. 5 Paid for the balance related to the purchase on Jan. 10 Mar. 15 Sold 300 units of merchandises in inventory at $80 each. The units sold were inventory from the beginning of the year. Apr. 1 Borrowed $20,000 from a local bank by signing a note, 12% annual rate maturing in 12 months. July 1 Purchased an equipment for $12,000 paying $3,000 in cash and the balance on account. This equipment is to be used for one year with no salvage value. July 5 Paid the remaining balance related to the purchase on July 1. Oct. 1 Renewed annual rent contract, paying all 12-month rent upfront totaling $36,000. Nov. 10 Paid $500 to repair the equipment Dec. 1 Sold 400 units of merchandises in inventory at $100 each on account. Dec. 5 100 units of merchandises from Dec. 1 sales are returned for credit. Dec. 20 Received an online order for 50 units of merchandises and received $5,000. Merchandises are scheduled to be shipped on Jan. 10, 2022. Dec. 31 Fiscal year 2021 has ended and adjusting entries are made. Instruction: Complete the posting of the transactions, including adjusting entries on the T-accounts. (No need to write the dates)Cash Inventory Accounts Receivable 100,000 12,000 Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Notes Payable Unearned Revenue Interest Payable Sales Revenue Sales Return & Allowance COGS Repair Expense Depreciation Expense Rent Expense Interest Expense Owner's Capital 112,000