Journal Entries were prepared, as shown in the first image based on Chart of accounts provided in the second image. Please help me verify the correctness, then prepare a Classified Balance Sheet.

1. Your Company issued common stock in exchange for $150,000 cash. Record the journal entry GENERAL DEBIT ACCOUNT TITLE CREDIT 000,0 2. Your Company purchased inventory on account in the amount of $50,000, terms net 30. Your Company uses the erpetual method for accounting for inventory. Record the journal entr GENERAL ACCOUNT TITLE CREDIT DEBIT td.cC Your Company sold some of the inventory for cash in the amount of $100,000 that cost $25,000. Record the journal entr 3. GENERAL DEBIT 00, 000.00 ACCOUNT TITLE CREDIT Your Company estimated that the income tax expense for the period was $15,000 and accrued that amount as a liability. Record the journal entr 4. GENERAL DEBIT CREDIT ACCOUNT TITLE