[The following information applies to the questions displayed belowi] The following transactions apply to Ozark Sales for Year 1 : 1. The business was started when the company received $49,000 from the issue of common stock 2. Purchased merchandise inventory of $177,000 on account. 3. Sold merchandise for $191,500 cash (not including sales tax). Sales tax of 7 percentis collected when the merchandise is sold. The merchandise had a cost of $116,500. 4. Provided a six-month warranty on the merchandise sold. Based on industry estimates, the watranty claims would amount to 3 percent of sales. 5. Paid the sales tax to the state agency on $141,500 of the sales 6. On September 1. Year 1, borrowed $19.000 from the local bank. The note had a 7 percent-interest rate and matured on March 1, Year 2 7. Paid $5,700 for warranty repairs duting the year. 8. Paid operating expenses of $55,000 for the year. 9. Paid $124,900 of accounts payable. 10. Recorded accrued interest on the note issued in transaction number 6. b1. Prepare the journal entries for the preceding transactions. b2. Post the transaction to the oppropilate Traccounts