... The following merchandising transactions for Menards Trading Company follows: July 3 Purchased merchandise from OLB Corp. for $15,000 under credit terms 1/10, n/30, FOB destination. 7 Sold merchandise to Brill Co. for $11,500 under credit terms 2/10, n/60, FOB destination. The merchandise had cost of $7,750. 10 Purchased merchandise from Rupert Co. for $14,200 under credit terms 1/10, n/45, FOB shipping point 11 Paid $300 cash for shipping charges related to the July 7 sale to Brill Co. 12 Brill returned merchandise from the July 7 sale that had cost Menards $1,450 and been sold for $2,000. The merchandise was restored to inventory. 14 After negotiations with Rupert Co. concerning problems with the merchandise purchased on July 10, Menards received a credit memorandum from Rupert granting a price reduction of $1,200. 15 At OLB's request, Menards paid $200 cash for freight charges on the July 3 purchase, reducing the amount owed to OLB. 17 Received balance due from Brill Co. for the July 7 sale less the return on July 12. 20 Paid the amount due Rupert Co. for the July 10 purchase less the price reduction granted on July 14. 21 Sold merchandise to Brown Co. for $11,000 under credit terms 1/10,n/30, FOB shipping point. The merchandise had cost of $7,000. ... 24 Brown requested a price reduction on the July 21 sale because the merchandise did not meet specifications. Menard sent Brown a credit memorandum for $1,000 toward the $11,000 invoice to resolve the issue. 30 Received Brown's cash payment for the amount due from the July 21 sale less the price allowance from July 24. 31 Paid OLB Corp. the amount due from the July 3 purchase. Based on the above transactions, fill in the blanks. 1. After all transactions have been posted, accounts receivable balance is Blank 1. 2. After all transactions have been posted, accounts payable balance is Blank 2. 3. After all transactions have been posted, cash balance is Blank 3. 4. After all transactions have been posted, sales balance is Blank 4. 5. After all transactions have been posted, sales discount balance is Blank 5. 6. After all transactions have been posted, merchandise inventory balance is Blank 6. 7. After all transactions have been posted, cost of goods sold balance is Blank 7. 8. After all transactions have been posted, sales returns and allowances balance is Blank 8. 9. After all transactions have been posted, total assets amount to Blank 9. 10. After all transactions have been posted, total transportation costs chargeable to operating expense of Menard is Blank 10