The following transactions apply to Ozark Sales for 2018: 1. The business was started when the company received $49,000 from the issue of common stock. 2. Purchased equipment inventory of $176,500 on account. 3. Sold equipment for $202,500 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $127,500. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 3 percent of sales. 5. Paid the sales tax to the state agency on $152,500 of the sales. 6. On September 1, 2018, borrowed $19,000 from the local bank. The note had a 6 percent interest rate and matured on March 1, 2019. 7. Paid $5,500 for warranty repairs during the year. 8. Paid operating expenses of $53,000 for the year. 9. Paid $125,100 of accounts payable. 10. Recorded accrued interest on the note issued in transaction no. 6. The following transactions apply to Ozark Sales for 2018: 1. The business was started when the company received $49,000 from the issue of common stock. 2. Purchased equipment inventory of $176,500 on account. 3. Sold equipment for $202,500 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $127,500. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 3 percent of sales. 5. Paid the sales tax to the state agency on $152,500 of the sales. 6. On September 1, 2018, borrowed $19,000 from the local bank. The note had a 6 percent interest rate and matured on March 1, 2019. 7. Paid $5,500 for warranty repairs during the year. 8. Paid operating expenses of $53,000 for the year. 9. Paid $125,100 of accounts payable. 10. Recorded accrued interest on the note issued in transaction no. 6