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 $ 483,000 of inventory on account. 3. Sold inventory on account for $ 646,000. The original cost of the inventory that was sold was $ 388,000. 4. Collected $ 554,000 from customers on account. 5. Paid $ 398,000 to suppliers for the inventory previously purchased on account. 6. Bought a delivery vehicle for $ 33,000 cash. 7. Paid $ 27,300 for rent, including $ 2,100 related to the next year. 8. Incurred $ 28,000 of operating expenses, of which $ 26,000 was paid. 9. Recorded $ 2,300 of depreciation on the vehicle. 10. Declared and paid dividends of $ 9,000. Prepare journal entries to record each of the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit 1. 2. 3. (To record sale of goods) (To record the cost) 4. 5. 6. 7. 8. 9. 10. Post the journal entries to the following Taccounts. (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 TI Inventory Vehicles III Accumulated Depreciation, Vehicles Accounts Payable V Common Shares Dividends Declared Sales Revenue Cost of Goods Sold - Rent Expense Operating Expense Depreciation Expense Prepare a December 31, 2020, trial balance. (Do not list those accounts that have zero ending balance.) Sweet Dreams Chocolatiers Ltd. Trial Balance December 31, 2020 Debit Credit $ $ Totals $ $