Question 1. The Marchetti Soup Company entered into the following transactions during the month of June:

1. purchased inventory on account for $165,000 (assume Marchetti uses a perpetual inventory system);

2. paid $40,000 in salaries to employees for work performed during the month;

3. sold merchandise that cost $120,000 to credit customers for $200,000;

4. collected $180,000 in cash from credit customers; and

5. paid suppliers of inventory $145,000.

Required:

1. Analyze each transaction and show the effect of each on the accounting equation for a corporation.

2. Prepare journal entries for each of the transactions

3. Post the journal entries prepared in T-accounts. Assume that the opening balances in each of the accounts is zero except for cash, accounts receivable, and accounts payable that had opening balances of $65,000, $43,000, and $22,000, respectively.

Please provide all the answer.....

Thank you....