PART E: Record Journal entries for each of the followmg transactions that occurred during scal 2009 (all amounts are in millions}. Do not create an}: new account ; use the account titles from your existing taccounts. After preparing the journal entries, post them to the t-accounts. I) New sales of $29,920 were made on account. The company also completed the earnings process for $6.l97 of' sales on prepaid contracts that had been previously recorded as current deferred revenues. The cost ofall ofthe merchandise sold for the period was $3,023. 2} Properly and equipment was acquired for $506 cash. 3) The company issued $527 in new common stock and took out new long-term debt in the amount 34,600. 4} The company earned and received interest income of$499 during the year. 5} The company collected cash of $3D,564 from its customers for sales initially recorded as accounts receivable