Required information Exercise 9.13A (Algo) Comprehensive single-cycle problem LO 9-1, 9-2, 9-4, 9-5 IThe following unformution apples fo the questions displayed below] The following transactions apply to Park Company for Year 1 1. Received $30,000 cash from the issue of common stock 2. Purchased inventory on account for $143.000 3. Sold invertory for $172.000 casts that hid cost 5105,000 . 5 ares tax was collected at the rate of 7 percert on the imentory sold 4. Borowed $20,400 from Fist State Bark on March 1, Year 1 . The note had a 7 percent interest rate and a one year term to maturity 5. Paid the accounts payable (see transaction 2). 6. Pand the sales tax due on $152,000 of sales Sales tax on the other 520,000 s not due unti afer the end of the year. 7. Salaries for the year for one employee arsounted to $31,000. Assume the 5ocial Security tax rate is 6 percent and the Medicale tax rate is 15 percent Federal incone tax withheld was $5.200 8. Pad $2.500 for warranty repairs during the yeat 9. Paid $12.500 of other operating expenses during the veat 10. Paid a dividend of $5.200 to the shareholders Adjustments. 11. The producis soid in transaction 3 were warteifed Pak estemated that the wartanty cout would be 4 percent of sales 12. Pecond tre acciued interest at December 3t, Year 1 13. Record the accrued parol tar at December 31. Year 1 Assume no paryod taxes. have been paid for the year and that tax rate is 540 percert on the fist 57,000 of earnos per emplayeet Exercise 9-13A (Algo) Part o Required: - Record the preceding transactions in general joumai form. (if no entry is required for o tronsection/event, select "No journel entry required in the first eccount fleid.)