The following list of accounts was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 1:

Cash	$	5,960
Accounts receivable		18,280
Allowance for doubtful accounts	$	1,520
Inventory		23,530
Accounts payable		10,910
Common stock		21,800
Retained earnings		13,540

Transactions for Year 2

1. Acquired an additional $11,700 cash from the issue of common stock.
2. Purchased $60,700 of inventory on account.
3. Sold inventory that cost $61,100 for $96,500. Sales were made on account.
4. The company wrote off $1,210 of uncollectible accounts.
5. On September 1, LGS loaned $9,500 to Eden Co. The note had an 9 percent interest rate and a one-year term.
6. Paid $14,530 cash for operating expenses.
7. The company collected $88,350 cash from accounts receivable.
8. A cash payment of $52,150 was paid on accounts payable.
9. The company paid a $4,800 cash dividend to the stockholders.
10. Uncollectible accounts are estimated to be 2 percent of sales on account.
11. Recorded the accrued interest at December 31, Year 2 (see item 5).