Le Petit Croissant Ltd (LPC) is a wholesale bakery that supplies flash frozen croissants to restaurants, hotelk, and other commercial customers LPC began operating in August 2020 and had the foliewing transacticns in its first monthe AuE 1 LPC issued 33.500 common shares to its two founding shareholders in exchame for $270,000 in cash and equilpment valued at $65,000. 1 The company borrowed $200,000 from the Commercial Bank at an interest rate of 6% The borrowisg abreement terms state that the loan is to be repaid at the end of each month in the amount of 33000 per month plus interest: Use Bark Loan Payable 3. In order to access a commercial kitchen, LPCleased the site of a former restaurant, pay in 56,000, of which $3,000 represented the rent for August and the balance was a damige deposit. 8. LPC purchased flour and other ingredients costing $32.600 on account. 12. LPC paid $5,000 to a local marketing compary tor its logo design and media planning services 14. LPC recorded its sales of the first two wecks of the month. Total sales thalf in cash and half on account) amounted to $53,800, and the inventory related to these sales was determined to have a cost of $16,200. 19. Paid the suppliers $24,400 for goods previously purchased on account. 25. Collections from customers on account totalled $21,200. 26. LPC purchased additional inventory (ffour and so on) on account for $23,000. 29. LPC recelved an invoice from its natural gas supplier for $2,700, which is payable on September 14 . 31. LPC recorded the sales for the balance of the month 5 ales for this period totalled $65,600, of which $22,000 was on account. The cost of the ingredients from inventory related to these sales ambunted to $20,700. 31 LPC 5 fuall time enployees were paid 33,300 each in wages for the month. 31 LPC made the ioan payment required under the terms of the borrowing agreement Prepare all necessary jourrulentries related to the abeye transactions iCredit account tities are automatically indented when the. amaunt is entered Do not indent moguady. If no entry is reauired, select Wo Entry: far the account tities and enter o for the amounts) (To record the issuance of shares) (To record the borrowings) Aug. 3 Aog114 Aug,14 (To record sale of goods) (To record the cost) (To recoid sale of goods) (To record the cost) (To record woges paid to employees) Aug.31 (To record payment of loan) (To record wages naid to employees) Aut. 31 (To record payment of loan) (To record devidend declared) Le Petit Croissant Ltd. (LPC) is a wholesale bakery that supplies flash frozen croissants to restaurants, hotels, and other commercial customers. LPC began operating in August 2020 and had the following transactions in its first month: Aug. 1 LPC issued 33,500 common shares to its two founding shareholders in exchange for $270,000 in cash and equipment valued at $65,000 1 The company borrowed $200,000 from the Commercial Bank at an interest rate of 6%. The borrowing agreement terms state that the loan is to be repaid at the end of each month in the amount of $3,000 per month plus interest. (Use Bank Loan Payable) 3 In order to access a commercial kitchen, LPC leased the site of a former restaurant, paying $6,000,0 which $3.000 represented the rent for August and the balance was a damage deposit. 8 LPC purchased flour and other ingredients costing $32,600 on account: 12. LPC paid $6,000 to a local marketing company for its logo design and media planning services. 14 LPC recorded its sales of the first two weeks of the month. Total 5 ales (half in cash and half on account) amounted to $53,800, and the inventory related to these sales was determined to have a cost of $16,200. 19 Paid the suppliers $24,400 for goods previously purchased on account. 25 Collections from customers on account totalled $21,200. 26LPC purchased additional inventory (flour and so on) on account for $23,000. 29LPC received an invoice from its natural gas supplier for $2,700, which is payable on September 14. 31 LPC recorded the sales for the balance of the month Sales for this period totalled $65,600, of which $22,000 was on account. The cost of the ingredients from inventory related to these sales amounted to $20,700. 31 LPC's 6 full-time employees were paid $3,300 each in wages for the month. 31 LPC recorded the sales for the balance of the month. Sales for this period totalled $65,600,0 which $22,000 was on account. The cost of the ingredients from inventory related to these sales amounted to $20,700. 31 LPC's 6 full-time employees were paid $3,300 each in wages for the month. 31 LPC made the loan payment required under the terms of the borrowing agreement. 31 LPC's board of directors declared a dividend of $1.00 per share to the hoiders of the company's common shares. Prepare all necessary journal entries related to the above transactions. (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 tities and enter 0 for the omounts.) Aug. 3 Aug. 14 (To record sale of goods) (To record the cost) Aug. 31 (To record sale of goods) (To record sale of goods) (To record the cost) (To record wages paid to employees) Aug. 31 (To record payment of loan) (To record devidend dedared) Le Petit Croissant Ltd (LPC) is a wholesale bakery that supplies flash frozen croissants to restaurants, hotelk, and other commercial customers LPC began operating in August 2020 and had the foliewing transacticns in its first monthe AuE 1 LPC issued 33.500 common shares to its two founding shareholders in exchame for $270,000 in cash and equilpment valued at $65,000. 1 The company borrowed $200,000 from the Commercial Bank at an interest rate of 6% The borrowisg abreement terms state that the loan is to be repaid at the end of each month in the amount of 33000 per month plus interest: Use Bark Loan Payable 3. In order to access a commercial kitchen, LPCleased the site of a former restaurant, pay in 56,000, of which $3,000 represented the rent for August and the balance was a damige deposit. 8. LPC purchased flour and other ingredients costing $32.600 on account. 12. LPC paid $5,000 to a local marketing compary tor its logo design and media planning services 14. LPC recorded its sales of the first two wecks of the month. Total sales thalf in cash and half on account) amounted to $53,800, and the inventory related to these sales was determined to have a cost of $16,200. 19. Paid the suppliers $24,400 for goods previously purchased on account. 25. Collections from customers on account totalled $21,200. 26. LPC purchased additional inventory (ffour and so on) on account for $23,000. 29. LPC recelved an invoice from its natural gas supplier for $2,700, which is payable on September 14 . 31. LPC recorded the sales for the balance of the month 5 ales for this period totalled $65,600, of which $22,000 was on account. The cost of the ingredients from inventory related to these sales ambunted to $20,700. 31 LPC 5 fuall time enployees were paid 33,300 each in wages for the month. 31 LPC made the ioan payment required under the terms of the borrowing agreement Prepare all necessary jourrulentries related to the abeye transactions iCredit account tities are automatically indented when the. amaunt is entered Do not indent moguady. If no entry is reauired, select Wo Entry: far the account tities and enter o for the amounts) (To record the issuance of shares) (To record the borrowings) Aug. 3 Aog114 Aug,14 (To record sale of goods) (To record the cost) (To recoid sale of goods) (To record the cost) (To record woges paid to employees) Aug.31 (To record payment of loan) (To record wages naid to employees) Aut. 31 (To record payment of loan) (To record devidend declared) Le Petit Croissant Ltd. (LPC) is a wholesale bakery that supplies flash frozen croissants to restaurants, hotels, and other commercial customers. LPC began operating in August 2020 and had the following transactions in its first month: Aug. 1 LPC issued 33,500 common shares to its two founding shareholders in exchange for $270,000 in cash and equipment valued at $65,000 1 The company borrowed $200,000 from the Commercial Bank at an interest rate of 6%. The borrowing agreement terms state that the loan is to be repaid at the end of each month in the amount of $3,000 per month plus interest. (Use Bank Loan Payable) 3 In order to access a commercial kitchen, LPC leased the site of a former restaurant, paying $6,000,0 which $3.000 represented the rent for August and the balance was a damage deposit. 8 LPC purchased flour and other ingredients costing $32,600 on account: 12. LPC paid $6,000 to a local marketing company for its logo design and media planning services. 14 LPC recorded its sales of the first two weeks of the month. Total 5 ales (half in cash and half on account) amounted to $53,800, and the inventory related to these sales was determined to have a cost of $16,200. 19 Paid the suppliers $24,400 for goods previously purchased on account. 25 Collections from customers on account totalled $21,200. 26LPC purchased additional inventory (flour and so on) on account for $23,000. 29LPC received an invoice from its natural gas supplier for $2,700, which is payable on September 14. 31 LPC recorded the sales for the balance of the month Sales for this period totalled $65,600, of which $22,000 was on account. The cost of the ingredients from inventory related to these sales amounted to $20,700. 31 LPC's 6 full-time employees were paid $3,300 each in wages for the month. 31 LPC recorded the sales for the balance of the month. Sales for this period totalled $65,600,0 which $22,000 was on account. The cost of the ingredients from inventory related to these sales amounted to $20,700. 31 LPC's 6 full-time employees were paid $3,300 each in wages for the month. 31 LPC made the loan payment required under the terms of the borrowing agreement. 31 LPC's board of directors declared a dividend of $1.00 per share to the hoiders of the company's common shares. Prepare all necessary journal entries related to the above transactions. (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 tities and enter 0 for the omounts.) Aug. 3 Aug. 14 (To record sale of goods) (To record the cost) Aug. 31 (To record sale of goods) (To record sale of goods) (To record the cost) (To record wages paid to employees) Aug. 31 (To record payment of loan) (To record devidend dedared)