QUESTION 2 (14 marks; 19 minutes) Cater Corporation's accountant recorded the following transactions during the last quarter in 2020: Date October 1 October 7 October 11 Transaction Purchased equipment worth $360,000 against a note; Carter must repay this amount in 8 equal quarterly instalments. Purchased merchandise inventory worth 760,000 on credit (2/10; n/30). (1) Returned merchandise worth 10,000, (2) Received an allowance from merchandise supplier of 4,000 against a complaint Paid the supplier for merchandise purchased Paid dividends declared in the previous quarter, $12,000 Accrued interest expense, $1,800, payable on 31" March 2021. Paid quarterly instalment against note. October 15 November 17 December 31 Required: Prepare all the required journal entries in order of date; in parentheses, show the effect on the accounting equation. If a journal entry is not required, please state clearly that it is not required