The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse 1. Issued 46,000 shares of common stock in exchange for $460,000 in cash. 2. Purchased equipment at a cost of $56,000. $18,000 cash was paid and a notes payable to the seller was signed for the balance owed. 3. Purchased inventory on account at a cost of $110,000. The company uses the perpetual inventory system 4. Credit sales for the month totaled $200,000. The cost of the goods sold was $86,000 5. Paid $6,600 in rent on the warehouse building for the month of March. 6. Pald $7.600 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. 7. Paid $86,000 on account for the merchandise purchased in 3. 8. Collected $71,000 from customers on account. 9. Recorded depreciation expense of $2,600 for the month on the equipment Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zero. Prepare a trial balance from the ending account balances Complete this question by entering your answers in the tabs below. T Accounts Trial Balance Post the above transactions to the below T-accounts, Assume that the opening balances in each of the accounts is zero. (Enter the number of the transaction in the column next to the amount) Cash Accounts receivable Beg Bal Beg Ball 0 400.000 18,00012 14 200,000 110,000 18 71,000 6,000 7,6000 End, Bal 568,000 End Bal Inventory Prepaid insurance Beg. Bal. 3 Beg Bal 110,000 End. Bal 110,000 End. Bal ok Equipment Accumulated depreciation Beg Bal 2 Bog Bal 56,000 int End. Bal 56,000 End, Bal rint Accounts payable Notes payable erences Beg Bal Beg. Bal 38,000 12 End. Bal End, Bal 38.000 Common stock Sales revenue Beg Bal 1 Beg Bal 46,000 End. Bal 46.000 End Ball Cost of goods sold Rent expense RA R Ral LE Accounts payable Notes payable Beg. Bal. Beg. Bal 38,000 2 End. Bal. End. Bal 38,000 Common stock Sales revenue Beg. Bal. Beg. Bal 1 46,000 ht End. Bal 46,000 End, Bal Cost of goods sold Rent expense ences Beg. Bal. Beg. Bal 86,000 End. Bal. 86,000 End. Bal Depreciation expense Beg Bal 2.600 End, Bal 2,600 TAccounts Trial Balance > Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is balance from the ending account balances. Complete this question by entering your answers in the tabs below. T Accounts Trial Balance Prepare a trial balance from the ending account balances. Account Title Trial Balance Debits Credits Totals 0 0
