The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. owed 1. Issued 26,000 shares of non-par common stock in exchange for $260,000 in cash. 2. Purchased equipment at a cost of $32,000 $8,000 cash was paid and a notes payable to the seller was signed for the balance 3. Purchased Inventory on account at a cost of $80,000. The company uses the perpetual Inventory system. 4. Credit sales for the month totaled $100,000. The cost of the goods sold was $60,000. 5. Pald $3,750 in rent on the warehouse building for the month of March 6. Poid $5,650 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. 7. Paid $60,000 on account for the merchandise purchased in 3. 8. Collected $45,000 from customers on account. 9. Recorded depreciation expense of $800 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 field.) View transaction is Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 Issued 26,000 shares of common stock in exchange for $260,000 in cash. Note debit before credits Transaction General Journal Debit Credit