The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse 1. Issued 38,000 shares of non-par common stock in exchange for $380.000 in cash. 2. Purchased equipment at a cost of $56.000. $14.000 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 $116.000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $160.000. The cost of the goods sold was $96.000. 5. Paid $5,250 in rent on the warehouse building for the month of March. 6. Paid $6.400 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. 7. Paid $96,000 on account for the merchandise purchased in 3. 8. Collected $72,000 from customers on account. 9. Recorded depreciation expense of $1.400 for the month on the equipment. Prepare journal entries to record each of the transactions listed above. (If no entry is required for a transaction/event, select "No journal entry required" In the first account fleld.) View transaction list Journal entry worksheet Issued 38,000 shares of common stock in exchange for $380,000 in cash. Note: Enter debits before credits Transaction General Journal Credit Debit 380,000 01 Cash 380,000 56,000 Common stock Equipment Cash Notes payable 14,000 42.000 Record entry Clear entry View general journal N 3 4 5 6 7 8 9 10 Purchased equipment at a cost of $56,000. $14,000 cash was paid and a notes payable to the seller was signed for the balance owed. 1 2 4 5 6 7 8 9 10 > Purchased inventory on account at a cost of $116,000. The company uses the perpetual inventory system. Note inter Collected $72,000 from customers on account. Note: Enter debits before credits. Journal entry worksheet