Required information [The following information applies to the questions displayed below.) Roth Inc. experienced the following transactions for year 1, its first year of operations: 1. Issued common stock for $50,000 cash. 2. Purchased $140,000 of merchandise on account. 3. Sold merchandise that cost $110,000 for $250,000 on account. 4. Collected $236,000 cash from accounts receivable. 5. Paid $118,000 on accounts payable. 6. Paid $50,000 of salaries expense for the year. 7. Paid other operating expenses of $28,000. 8. Roth adjusted the accounts using the following information from an accounts receivable aging schedule: Allowance Balance Number of Days Past Duo Current 0-30 31-60 61-90 Over 90 days Amount $10.000 2.000 1. 200 500 300 Percent Likely to Be Uncollectible 0.01 0.05 0.10 0.20 0.50 Required a. Record the above transactions in general journal form and post to T-accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record entry for issuance of common stock. Note: Enter debits before credits. General Journal Debit Credit Event 01 Record entry Clear entry View general journal Required information Cash Common Stock Beg Bal Beg Bal End Bal End. Bal Accounts Receivable Sales Revenue Beg Bal Beg Bal End. Bal End. Bal. Allowance for Doubtful Accounts Cost of Goods Sold Beg. Bal Beg Bal End. Bal End. Bal Merchandise Inventory Operating Expenses Beg. Bal Beg Bal End. Bal End, Bal Accounts Payable Salaries Expense Beg Bal Beg Bal End. Bal End. Bal Uncollectible Accounts Expense Beg. Bal. End. Bal