The following transactions occurred during March 2018 for the Wainwright Corporation. The company owns and operates a wholesale 1 Issued 40,000 shares of common stock in exchange for $400,000 in cash. 2 Purchased equipment at a cost of $50,000, $15,000 cash was paid and a note payable was signed for the balance owed 3. Purchased inventory on account at a cost of $98,000. The company uses the perpetual inventory system. 4 Credit sales for the month totaled $170,000. The cost of the goods sold was $80,000. 5. Paid $6,000 in rent on the warehouse building for the month of March 6. Paid $7000 to an insurance company for fire and liablity insurance for a one-year period beginning April 1, 2018 7. Paid $80,000 on account for the merchandise purchased in 3 8 Collected $65,000 from customers on account 9. Recorded depreciation expense of $2.000 for the month on the equipment Post the above transactions to the below T-accounts. Assume that the opening balanices in each of the accounts is zero. Prepare a trial balance from the ending account balances