Summarized here are the transactions/events that took place during the fiscal year ended September 30, 2023. Prepare journal entries for the below transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. 1. Credit sales for the year amounted to $288,000. The cost of goods sold was $187,200. 2. Collected accounts receivable, $302,400. 3. Purchased inventory on account, $201,600. 4. Issued 600 shares of common stock for $22 per share, 5. Wrote off $8,400 of uncollectible accounts using the allowance for bad debts. 6. Declared and paid a cash dividend, $24,000. 7. Sold marketable securities costing $31,200 for $37,200 in cash. B. Recorded insurance expense for the year, $14,400. The premium for the policy was paid in June 2022 , 9. Borrowed cash on a short-term bank loan, $12,000. 10. Repaid principal of $48,000 and interest of $3,600 on a long-term bank loan. \begin{tabular}{lr} Cash & $38,400 \\ Marketable securities & 108,000 \\ Accounts receivable, net & 132,000 \\ Inventory & 150,000 \\ Prepaid expenses & 16,800 \\ Total current assets & $445,200 \\ Accounts payable & $99,000 \\ Other accrued liabilities & 24,200 \\ Short-term debt & 44,000 \\ Total current liabilities & $167,200 \\ \hline \end{tabular}