The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. Make T-accounts and trial balance.

1. Issued 38,000 shares of common stock in exchange for $380,000 in cash.
2. Purchased equipment at a cost of $48,000. $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 $94,000. The company uses the perpetual inventory system.
4. Credit sales for the month totaled $160,000. The cost of the goods sold was $78,000.
5. Paid $5,800 in rent on the warehouse building for the month of March.
6. Paid $6,800 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021.
7. Paid $78,000 on account for the merchandise purchased in 3.
8. Collected $63,000 from customers on account.
9. Recorded depreciation expense of $1,800 for the month on the equipment.
10. 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.