PREPARE JOURNAL ENTRY:

1 Paid Salaries payable $1,250 that were accrued as of 12/31/2022

2 Paid Utilities payable $500 that were accrued as of 12/31/2022

3 Paid external accountant $3,000 for services rendered in 2022 that were accrued as of 12/31/2022

4 Sales revenue was $30,000, of which $10,000 was on credit; COGS was $19,500

5 Collected $19,000 on accounts receivable

6 Purchased $40,000 of merchandise, of which $8,000 was on account

7 Paid $6,000 cash toward accounts payable

8 Sales revenue was $82,000 (in cash); COGS was $53,300

9 Paid $19,000 cash in operating expenses

10 Purchased $50,000 of merchandise, of which $25,000 was on credit

11 Collected $6,000 on accounts receivable