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The Chewbacca Starship Company had the following transactions during the month of December: (1) purchased inventory on account for $190,000 (assume Chewbacca uses a perpetual

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The Chewbacca Starship Company had the following transactions during the month of December: (1) purchased inventory on account for $190,000 (assume Chewbacca uses a perpetual inventory system); (2) paid $49,000 in salaries to employees for work performed during the month; (3) sold merchandise that cost $138,000 to credit customers for $245,000; (4) collected $225,000 in cash from credit customers; and (5) paid suppliers of inventory $170,000. Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zero except for cash, accounts receivable, and accounts payable that had opening balances of $69,500, $52,000, and $31,000, respectively. Enter the transaction number from above (e.g.: (9).(2), etc.) in the column next to the appropriate amounts. Cash Accounts receivable Beg bal Beg bal End, bal. End, bal Inventory Accounts payable Beg bal Beg bal End, bal End, bal Sales revenue Cost of goods sold Beg bal Beg bol End, bal End, bal Salarios expense Beg bal End hal

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