The following post-closing trial balance was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 2:

Cash	$	6,920
Accounts receivable		18,120
Allowance for doubtful accounts		1,880
Inventory		23,460
Accounts payable		7,495
Common stock		19,200
Retained earnings		19,925

Transactions for Year 3

1. Acquired an additional $11,400 cash from the issue of common stock.
2. Purchased $60,500 of inventory on account.
3. Sold inventory that cost $60,500 for $93,400. Sales were made on account.
4. The company wrote off $1,260 of uncollectible accounts.
5. On September 1, LGS loaned $10,500 to Eden Co. The note had an 9 percent interest rate and a one-year term.
6. Paid $14,140 cash for operating expenses.
7. The company collected $78,540 cash from accounts receivable.
8. A cash payment of $53,160 was paid on accounts payable.
9. The company paid a $4,600 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)

a. Organize the transaction data in accounts under an accounting equation. (Do not round intermediate calculations. Enter any decreases to account balances with a minus sign. Not all cells in the "Accounts Titles for Retained Earnings" column may require an input - leave cells blank if there is no corresponding Retained Earnings input needed.

LITTLE GROCERY SUPPLIER (LGS) Accounting Equation for the Year 3 = Liabilities + Stockholders' Equity Notes Interest - Accounts. Common Retained Receivable Receivable Payable Stock Earnings Event Assets Merchandise Allowance Inventory Accounts Titles for Retained Earnings Cash + Accounts * Receivable + + + + + + + + + *********** + + + + + + + + :14+++