On January 1, 2024, Displays Incorporated had the following account balances Account title Cash Accounts receivable Supplies Inventory Accounts payable Notes payable (t, due next year) Common stock Totals Debit 24,000) 30,0 $375,000 $375,000 From January 1 to December 31, the following summary transections occurred: a. Purchased inventory on account for $335,000 b. Sold inventory on account for $595,000. The cost of the inventory sold was $315,000 c. Received $560,000 from customers on accounts receivable d. Paid freight on inventory received. $29,000 Paid $325,000 to inventory suppliers on accounts payable of $334,000. The difference reflects purchase discounts of $9,000. Paid rent for the current year, $47,000. The payment was recorded to Rent Expense 9 Paid salaries for the current year, $155.000. The payment was recorded to Salaries Expense. Year-end adjusting entries Supplies on hand at the end of the year are $5,000 b. Accrued interest expense on notes payable for the year Accrued income taxes at the end of December are $23,000 Complete this question by entering your answers in the tabs below. Ger Requires Trial Balance Prepare the majesties for transactions Note: If no pry is Vew transaction Mow journal entry worksheet NO Date Account Title Credit 27.000 IN 2 N Ad Co of goods sold 7 A January 02 Clea " January 2 Cash A January 2 Cet 7 ry 02 27,000