Rob Corp is a lumber yard on Angel Island. Prepare journal entries to record the following transactions and events in the accounting record of Rob Corp (the company uses a perpetual system). Apr. 15 Sold lumber on an account to Hard Hat Construction, $500,000. The inventory subsidiary ledger shows the cost of this merchandise was $300,000. Apr. 19 Purchased lumber on account from LHP Company $100,000. May 10 Collected in cash the $500,000 accounts receivable from Hard Hat Construction. May 19 Paid the $100,000 owed to LHP Company. Dec. 31 Zip Corp personnel counted the inventory on hand and determined its cost to be $120,000. The accounting records, however, indicate inventory of $140,000 and a cost of goods sold of $900,000. The physical count of the inventory was observed by the companys auditors and it is considered correct.