The following post-closing trial balance was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 1 Cash Accounts receivable Allowance for doubtful accounts Tnventory Accounts payable Common stock Retained earnings Totals Debit Credit $ 9,000 41,800 $ 2,5ee 78,690 21,800 50,000 54,500 $128,899 $128,888 Transactions for Year 2 1. LGS acquired an additional $20,000 cash from the issue of common stock. 2 LGS purchased $85,000 of Inventory on account. 3.LGS sold Inventory that cost $91.000 for $160,000. Sales were made on account. 4. The company wrote off $900 of uncollectible accounts. 5. On September 1.LGS loaned $18,000 to Eden Co. The note had an 8 percent interest rate and a one-year term. 6. LGS paid $19.000 cash for operaung expenses 7. The company collected $161.000 cash from accounts receivable, 8. A cash payment of $92000 was paid on accounts payable 9. The company paid a $5,000 cash dividend to the stockholders 10. Accepted credit cards for sales amounting to $7.000. The cost of goods sold was $4,000. The credit card company charges a 4% service charge. The cash has not been received 11. Uncollectible accounts bre estimated to be percent of sales on account 12. Recorded the accrued interest of December 31 Year 2 Exercise 7-15 A Part a Required a. Record the above transactions in general Journal form. If no entry is required for a transaction event select "No journal entry required in the first account field.) hos Vuwon