ME Sold inventory worth $8,000 for $12,500 on account Cash 12,500 Inventory 8,000 20 1 point Purchased $10,000 of inventory by paying cash of $1,000 and receiving short- term credit for the remainder Inventory 10,000 cash 1,000 A/P 9,000 V 21 1 point Paid back $3,000 which was owed to a supplier A/P 3,000 cash 3,000 > 22 1 point Declared and paid cash dividends of $20,000 Common Divident payable 20,000 cash 20,000 23 1 point Paid the bank $10,000 principle and $500 interest (interest was not previously accrued) Interest Expense 500 Aciva Windows cash 10,500 Go to Sellings to activate Windo ME Sold inventory worth $8,000 for $12,500 on account Cash 12,500 Inventory 8,000 20 1 point Purchased $10,000 of inventory by paying cash of $1,000 and receiving short- term credit for the remainder Inventory 10,000 cash 1,000 A/P 9,000 V 21 1 point Paid back $3,000 which was owed to a supplier A/P 3,000 cash 3,000 > 22 1 point Declared and paid cash dividends of $20,000 Common Divident payable 20,000 cash 20,000 23 1 point Paid the bank $10,000 principle and $500 interest (interest was not previously accrued) Interest Expense 500 Aciva Windows cash 10,500 Go to Sellings to activate Windo