Required information [The following information applies to the questions displayed below] The trial balance for Terry's Auto Shop as of January 1, Year 2, follows: The following events affected the company during the Year 2 accounting period: 1. Purchased merchandise on account that cost $4,220. 2. The goods in Event 1 were purchased FOB shipping point with freight cost of $275 cash. 3. Returned $475 of damaged merchandise for credit on account. 4. Agreed to keep other damaged merchandise for which the company recelved an $230 allowance. 5. Sold merchandise that cost $2,570 for $13,800 cash. 6. Delivered merchandise to customers in Event 5 under terms FOB destination with freight costs amounting to $105 cash. 7. Paid $2,880 on the merchandise purchased in Event 1. 8. Paid $8,530 cash for operating expenses. b. Open general ledger T-accounts with the appropriate beginining balances, and post the journal entries to the T-accounts. b. Open general ledger T-accounts with the appropriate beginning balances, and post the joumal entries to the T-accounts