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Required information [The following information applies to the questions displayed below) The trial balance for Terry's Auto Shop as of January 1, Year 2, follows Account Titles Debit Cash Credit $ 14,860 Inventory 3,090 Common Stock $ 7,460 Retained Earnings 10,490 Total $ 17,950 $ 17,950 ok 1 The following events affected the company during the Year 2 accounting period: 1. Purchased merchandise on account that cost $4.120. 2. The goods in Event 1 were purchased FOB shipping point with freight cost of $215 cash. 3. Returned $420 of damaged merchandise for credit on account. 4. Agreed to keep other damaged merchandise for which the company received an $280 allowance 5. Sold merchandise that cost $2,680 for $13,000 cash 6. Delivered merchandise to customers in Event 5 under terms FOB destination with freight costs amounting to $110 cash. 7. Paid $2.890 on the merchandise purchased in Event 1 8. Paid 58.750 cash for operating expenses. int b. Open general ledger T-accounts with the appropriate beginning balances and past the journal entries to the T-accounts. b. Open general ledger T-accounts with the appropriate beginning balances, and post the jour Cash Accounts Payable Beg. Bal Beg. Bal End. Bal End. Bal Inventory Common Stock Beg Bal Beg. Bal End. Bal End. Bal Retained Earnings Sales Revenue Beg Bal Beg. Bal End. Bal End. Bal Cost of Goods Sold Transportation-out Beg. Bal Beg Bal End. Bal End. Bal Operating Expenses Beg Bal End Bal