ok t ces The following listing of accounts pertains to Benji's Grocery as of January 1, Year 2: Beginning Balances $ 22,500 3,300 43,000 3,300 36,000 29,500 Account Title Cash Accounts receivable Merchandise inventory Accounts payable Common stock Retained earnings The following events occurred in Year 2. Assume that Benji's uses the periodic inventory method. 1. Purchased land for $8,300 cash. 2. Purchased merchandise on account for $89,000, terms 3/10, n/45. 3. Paid freight of $650 cash on merchandise purchased FOB shipping point. 4. Returned $2,900 of defective merchandise purchased in Event 2. 5. Sold merchandise for $79,000 cash. 6. Sold merchandise on account for $79,500, terms 1/10, n/30. 7. Paid cash within the discount period on accounts payable due on merchandise purchased in Event 2. 8. Paid $10,900 cash for selling expenses. 9. Collected $43,000 of the accounts receivable from Event 6 within the discount period. 0. Collected $36,500 of the accounts receivable but not within the discount period. 11 Paid $5.700 of other onerating evnenses <