Prepare Journal Entries for each event

February Date Notes Sold to Eric's Bike Shop, COGS iS $ 15,000 5 8 12 14 15 Transaction Purchased inventory on account Sale on account Purchased radio time in March Received accounts receivable (customer) payment Paid supplier (accounts payable) Paid monthly administrative salaries Paid monthly sales salaries Paid January sales commissions Sale on account Paid February utilities Purchased inventory on account $ $ $ $ $ $ $ $ $ $ $ 50,000 25,000 15,000 20,000 40,000 10,000 5,000 9,300 40,000 1,500 35,000 Ignore payroll taxes Ignore payroll taxes Ignore payroll taxes Sold to Dick's Sporting Goods, COGS is 20 $ 22,000 27