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[The following information applies to the questions displayed below.] The following post-closing trial balance was drawn from the accounts of Little Grocery Supplien (LGS) as

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[The following information applies to the questions displayed below.] The following post-closing trial balance was drawn from the accounts of Little Grocery Supplien (LGS) as of December 31 . Year 1. Transactions for Year 2 1. LGS acquired an odditional $9.800 cash from the issue of common stock: 2. LGS purchased $60,200 of inventory on account. 3. LGS sold inventory that cost $61,500 for $94,300, Sales were made on account. 4. The company wrote off $1,140 of uncollectible accounts. 3. On September 1, LGS lobned $8,000 to Eden Compuny The note had an 9 percent interest rate and a one-yearterm 6. LGS paid $15,820 cash for operating expenses 7. The company collected $86,540 cash from accounts receivable 8. A cash payment of $47,240 was paid on accounts payable. 9. The company pald a $5,000 cosh dividend to the stockhoiders. 10. Accepted credit cards for sales amounting to $3.000. The cost of goods sold was $1,600. The credit card company charges a 3 percent service charge. The cash has not beenrecelved. 11. Uncollectible accounts are estimated to be 1.5 percent of sales on account. 12. Recorded the accrued interest at December 31, Year 2 Exerclse 7-15A (Algo) Part b b. Open T-accounts and record the beginning balances and the Year 2 transactions, (Round your onswers to nearest whole dollar.)

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