The following post-closing trial balance was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, 2017 Cash Accounts receivable Allowance for doubtful accounts Inventory Accounts payable Common stock Retained earnings $ 5,830 18,830 $ 1,650 22,130 10,050 19,800 15,290 Transactions for 2018 1. Acquired an additional $9,500 cash from the issue of common stock 2. Purchased $58,400 of inventory on account. 3. Sold inventory that cost $61,900 for $96,600. Sales were made on account. 4. The company wrote off $1,490 of uncollectible accounts 5. On September 1, LGS loaned $10,500 to Eden Co. The note had an 5 percent interest rate and a one-year term 6. Paid $16,410 cash for operating expenses 7. The company collected $70,370 cash from accounts receivable 8. A cash payment of $51,210 was paid on accounts payable