Some of the ledger accounts for the Sanderson Hardware Company are listed below. For each of the October 2021 transactions numbered 1 through 10 below, indicate by account name which accounts should be debited and which should be credited when preparing journal entries. The company uses the perpetual inventory system. Accounts payable Accounts receivable Supplies expense Retained earnings Deterred sales revenue Coat of goods sold Dividends Equipment cash) Prepaid rent Hotes payable Rent expense Salarioa expanse Inventory Supplies Sales revenue Common stock Salaries payable Interest axpense Account Debited Inventory Account Credited Cash Example: Purchased inventory for cash 1. Paid a cash dividend. 2. Paid rent for the next three months Sold goods to customers an account. (To recard sale of goods to customers.) 3. Sold goods to customers on account. (To record cost of goods sold to customers.) b 4. Purchased inventory an account 5. Purchased supplies for cash. 6. Issued common stock in exchange for cash 7. Collected cash from customers goods sold in 3 9. Borrowed cash from a bank and signed a note 9. At the end of October, recorded the amount of supplies that had been used during the month. 10. Received cash for advance payment from customer