The following post closing trial balance was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 2 Cash Accounts receivable Allowance for doubtful accounts Inventory Accounts payable Common stock Retained earnings $ 6,720 18,865 1,945 24,800 8,260 18,100 22,080 Transactions for Year 3 1. Acquired an additional $11,300 cash from the issue of common stock 2. Purchased $61,900 of inventory on account. 3. Sold inventory that cost $61,900 for $95,500. Sales were made on account 4. The company wrote off $910 of uncollectible accounts. 5. On September 1, LGS loaned $8,000 to Eden Co. The note had an 7 percent interest rate and a one-year term 6. Paid $15,510 cash for operating expenses 7. The company collected $81,830 cash from accounts receivable. 8. A cash payment of $53,650 was paid on accounts payable. 9. The company paid a $4,500 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 3 (see item 5). Check my work ELIE WOLLUVIL MOLED WITHUB BILGI LEHEC ALLUUILD DILIGEVOLVIERTE Y Suure Required information LITTLE GROCERY SUPPLIER (LGS) Accounting Equation for the Year 3 Liabilities Notes Interest Accounts Receivable Receivable Payable Event Assets Merchandise Allowance Inventory Accounts Receivable Stockholders' Equity Common Retained Stock Earnings Cash Accounts Titles for Retained Bal + + 1 2 3a 3b 4 5. G 9 10 11 Bal 10