The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 30,000 shares of common stock in exchange for $300,000 in cash. 2. Purchased equipment at a cost of $40,000. $10,000 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 $90,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $120,000. The cost of the goods sold was $70,000. 5. Paid $5,000 in rent on the warehouse building for the month of March. 6. Paid $6,000 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. 7. Paid $70,000 on account for the merchandise purchased in 3. 8. Collected $55,000 from customers on account. 9. Recorded depreciation expense of $1,000 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. X Answer is not complete. 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. 10000 Beg. Bal. 1. 2. 4. 120,000 55,000 8. 300,000 55,000 8. 5,000 6,000 70,000 5. 6. XX 4. End. Bal. 264,000 End. Bal. 65,000 Inventory Prepaid insurance Beg. Bal. Beg. Bal. 3. 90,000 70,000 4. 6. 6,000 End. Bal. 20,000 End. Bal. 6,000 Equipment Accumulated depreciation Beg. Bal. Beg. Bal. 2. 40,000 1,000 9. End. Bal. 40,000 End. Bal. 1,000 Accounts payable Notes payable Beg. Bal. Beg. Bal. 7. 70,000 90,000 3. 30,000 2. End. Bal. 20,000 End. Bal. 30,000 Common stock Sales revenue Beg. Bal. Beg. Bal. 300,000 1. 120,000 4. End. Bal. 300,000 End. Bal. 120,000 Cost of goods sold Rent expense Beg. Bal. Beg. Bal. 4. 70,000 5. 5,000 End. Bal. 70,000 End. Bal. 5,000 Depreciation expense Beg. Bal. 9. 1,000 End. Bal. 1,000