On Dec 31, 2014, BiWheels Company had the following account balance. In January 2015, the company made the following transactions. Use the accounts in the balance sheet (plus revenue and expense accounts) to 1. Prepare journal entries using the table provided below 2. Calculate the ending balance of Account receivable account by posting relevant transactions to ledger. 3. Calculate the ending balance of Retained earnings account. The net income for the 2015 is $366,000. Account Balance Account Balance Cash $507,000 Account payable $90,200 Accounts receivable 150,000 Long term liabilities 110,000 Inventory 39,200 Total liabilities 200,200 Other current assets 2,000 Building and equipment 23,800 Paid-in Capital 400,000 Retained earnings 121,800 Total assets $ 722,000 Total liabilities and equities $ 722,000 Jan 2 Acquisition of inventory $18,000 on cash 4 Collection of account receivable $80,000 7 Made a credit sale of $30,000 at the cost of $22,000 10 Payment of account payable $35,000 22 BiWheels paid $25,000 dividend to investors Prepare journal entries using this table format: Date Accounts/description debit credit