Required information [The following information applies to the questions displayed below.] The following post-closing trial balance was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 1. Debit Credit Cash $5,420 Accounts receivable, 18,360 Allowance for doubtful accounts. $1,940 Inventory 23,310 Accounts payable. 10,715 Common stock 18,400 Retained earnings 16,035 Totals $47,090 $47,090 Transactions for Year 2 1. LGS acquired an additional $11,500 cash from the issue of common stock. 2. LGS purchased $61,200 of inventory on account. 3. LGS sold inventory that cost $62,200 for $94,500. Sales were made on account. 4. The company wrote off $1,250 of uncollectible accounts.. 5. On September 1, LGS loaned $9,000 to Eden Company The note had an 7 percent interest rate and a one-year term.. 6. LGS paid $15,740 cash for operating expenses. 7. The company collected $89,470 cash from accounts receivable. 8. A cash payment of $45,110 was paid on accounts payable. 9. The company paid a $5,800 cash dividend to the stockholders. 10. Accepted credit cards for sales amounting to $3,900. The cost of goods sold was $1,900. The credit card company charges a 4 percent service charge. The cash has not been received. 11. Uncollectible accounts are estimated to be 2.5 percent of sales on account. 12. Recorded the accrued interest at December 31, Year 2. Required a. Record the given transactions in general journal form. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to nearest whole dollar.) t1 of 3 Required a. Record the given transactions in general journal form. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to nearest whole dollar.) ts View transaction list Skipped Journal entry worksheet eBook < A B C D E F G H..... N Hint Record the issuance of additional common stock. Print Note: Enter debits before credits References Event 1. General Journal Debit Credit Clear entry View general journal Record entry