Powell Company began the Year 2 accounting period with $20,000 cash, $60,100 inventory, $48,500 common stock, and $31,600 retained earnings. During Year 2, Powell experienced the following events: 1. Sold merchandise that cost $36,800 for $75,100 on account to Prentise Furniture Store. 2. Delivered the goods to Prentise under terms FOB destination. Freight costs were $380 cash. 3. Recelved returned goods from Prentise. The goods cost Powell $1,96p and were sold to Prentise for $3,820. 4. Granted Prentise a $1,160 allowance for damaged goods that Prentise agreed to keep. 5. Collected partial payment of $53,700 cash from accounts receivable. Exercise 4-16A (Algo) Part b Required b. Post the beginning balances and journal entries to the T-accounts. (1) Required information