Sweet Dreams Chocolatiers Ltd. began operations on January 1, 2020. During its first year, the following transactions occurred: 1. Issued common shares for $200,000 cash. 2. Purchased $486,000 of inventory on account. 3. Sold inventory on account for $649,000. The original cost of the inventory that was sold was $389,000. Collected $566,000 from customers on account. 5. Paid $412,000 to suppliers for the inventory previously purchased on account. 6. Bought a delivery vehicle for $31,000 cash. 7. Paid $24,700 for rent, including $1,900 related to the next year. 8. Incurred $29,000 of operating expenses, of which $27,000 was paid. 9. Recorded $2,500 of depreciation on the vehicle. 10. Declared and paid dividends of $7,500. No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. 6. (To record sale of goods) (To record the cost) 6. 7. 8. 9. 10. Post the journal entries to the following T accounts. (Post entries in the order of journal entries presented in the previous question. If beginning balance is zero, enter O in the column for the normal balance for that account.) Cash Accounts Receivable Prepaid Rent Prepaid Rent Inventory Vehicles Accumulated Depreciation, Vehicles 8pm orders Accounts Payable Common Shares Dividends Declared Sales Revenue I Sales Revenue Cost of Goods Sold Rent Expense Operating Expense Opth Orders Operating Expense Depreciation Expense