The following transactions occurred during March 2021 for the Wainwright Corporation The company owns and operates a wholesale warehouse Issued 48,000 shares of common stock in exchange for $480,000 in cash Purchased equipment at a cost of $58,000 $19,000 cash was paid and a notes payable to the seller was signed for the balance owed Purchased inventory on account at a cost of $114,000 The company uses the perpetual inventory system Credit sales for the month totaled $210,000 The cost of the goods sold was $88,000 Paid $6,800 in rent on the warehouse building for the month of March Paid $7,800 to an insurance company for fire and liability insurance for a one year period beginning April 1, 2021 Paid $88,000 on account for the merchandise purchased in 3 Collected $73,000 from customers on account Recorded depreciation expense of $2,800 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 Accounts payable Notes payable Beg Bal 3 Beg Bal 2 146,000 39,000 7 126,000 End Bal 20,000 End Bal 39,000 Common stock Sales revenue Beg Bal Beg Bal 4 480,000 210,000 End Bal 480,000 End Bal 210,000 Cost of goods sold Rent expense Beg Bal 4 Beg Bal 5 126,000 6,800 End Bal 126,000 End Bal 6,800 Depreciation expense Don Dal Cash Accounts receivable Beg Bal Beg Bal 4 210,000 480,000 73,000 19,000 6,800 7,800 88,000 End Bal 431,400 End Bal 210,000 Inventory Prepaid insurance Beg Bal 3 Beg Bal 6 114,000 7,800 End Bal 114,000 End Bal 7,800 Equipment Accumulated depreciation Beg Bal 1 Beg Bal 19,000 39,000 2,800 55,200 End Bal End Bal

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The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. Issued 48,000 shares of common stock

The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse.

Issued 48,000 shares of common stock in exchange for $480,000 in cash.
Purchased equipment at a cost of $58,000. $19,000 cash was paid and a notes payable to the seller was signed for the balance owed.
Purchased inventory on account at a cost of $114,000. The company uses the perpetual inventory system.
Credit sales for the month totaled $210,000. The cost of the goods sold was $88,000.
Paid $6,800 in rent on the warehouse building for the month of March.
Paid $7,800 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021.
Paid $88,000 on account for the merchandise purchased in 3.
Collected $73,000 from customers on account.
Recorded depreciation expense of $2,800 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.

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Accounts payable Notes payable Beg. Bal. 3. Beg. Bal. 2. 146,000 39,000 7. 126,000 End. Bal. 20,000 End. Bal. 39,000 Common stock Sales revenue Beg. Bal. Beg. Bal. 4. 480,000 210,000 End. Bal. 480,000 End. Bal. 210,000 Cost of goods sold Rent expense Beg. Bal. 4. Beg. Bal. 5. 126,000 6,800 End. Bal. 126,000 End. Bal. 6,800 Depreciation expense Don Dal Cash Accounts receivable Beg. Bal. Beg. Bal. 4. 210,000 480,000 73,000 19,000 6,800 7,800 88,000 End. Bal. 431,400 End. Bal. 210,000 Inventory Prepaid insurance Beg. Bal. 3. Beg. Bal. 6. 114,000 7,800 End. Bal. 114,000 End. Bal. 7,800 Equipment Accumulated depreciation Beg. Bal. 1. Beg. Bal. 19,000 39,000 2,800 55,200 End. Bal. End. Bal