Saved Exercise 2-2 (Algo) Journal entries (LO2-3) The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesa warehouse. 1. Issued 40,000 shares of non-par common stock in exchange for $400,000 in cash. 2. Purchased equipment at a cost of $60,000. $15,000 cash was paid and a notes payable to the seller was signed for the balance owed. 3. Purchased inventory on account at a cost of $122,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $170,000. The cost of the goods sold was $102,000. 5. Paid $5,500 in rent on the warehouse building for the month of March. 6. Paid $6,550 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. 7. Paid $102.000 on account for the merchandise purchased in 3. 8. Collected $76,500 from customers on account. 9. Recorded depreciation expense of $1,500 for the month on the equipment Prepare journal entries to record each of the transactions listed above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Les View journal entry worksheet Credit Debit View transaction list General Journal ving transactions occurred during March 2021 for the Wainwright Corporation. The company owns and se. d 40,000 shares of non-par common stock in exchange for $400,000 in cash. mased equipment at a cost of $60,000. $15,000 cash was paid and a notes payable to the seller was signe hased inventory on account at a cost of $122,000. The company uses the perpetual inventory system. Dit sales for the month totaled $170,000. The cost of the goods sold was $102,000. $5,500 in rent on the warehouse building for the month of March. $6,550 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. d $102,000 on account for the merchandise purchased in 3. llected $76.500 from customers on account. corded depreciation expense of $1,500 for the month on the equipment are journal entries to record each of the transactions listed above. (lf no entry is required for a transaction/event, hal entry required" in the first account field.) View transaction list View journal entry worksheet Dehir Credit The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. issued 40,000 shares of non-par common stock in exchange for $400,000 in cash. 2. Purchased equipment at a cost of $60,000. $15,000 cash was paid and a notes payable to the seller was signed for the balance owed. 3. Purchased inventory on account at a cost of $122.000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $170,000. The cost of the goods sold was $102,000. 5. Paid $5,500 in rent on the warehouse building for the month of March 6. Paid $6,550 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. 7. Paid $102.000 on account for the merchandise purchased in 3. 8 Collected $76,500 from customers on account, 9. Recorded depreciation expense of $1,500 for the month on the equipment. Prepare journal entries to record each of the transactions listed above. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View ansaction View journal entry worksheet ....... No Transaction General Journal Debit Credit 01 Cash Common stock Equipment Dividends Dividends Dividends 02 Cash -2 (Algo) Journal entries (LO2-3] g transactions occurred during March 2021 for the Wainwright Corporation. The company owns and op 40,000 shares of non-par common stock in exchange for $400,000 in cash. sed equipment at a cost of $60,000. $15,000 cash was paid and a notes payable to the seller was signed zsed inventory on account at a cost of $122,000. The company uses the perpetual inventory system. sales for the month totaled $170,000. The cost of the goods sold was $102,000. $5,500 in rent on the warehouse building for the month of March. $6.550 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. $102.000 on account for the merchandise purchased in 3. ected $76,500 from customers on account. Eorded depreciation expense of $1,500 for the month on the equipment. are journal entries to record each of the transactions listed above. (If no entry is required for a transaction/event, mal entry required" in the first account field.) View transaction list View journal entry worksheet No Transaction