The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 31,000 shares of common stock in exchange for $310,000 in cash. 2. Purchased equipment at a cost of $41,000. $10,500 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 $80,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $125,000. The cost of the goods sold was $71,000. 5. Paid $5,100 in rent on the warehouse building for the month of March. 6. Paid $6,100 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. 7. Paid $71,000 on account for the merchandise purchased in 3. 8. Collected $56,000 from customers on account. 9. Recorded depreciation expense of $1,100 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. Beg Bal 1 4. 125,000 56,000 8. 310,000 56,000 8. 10,5002 5,1005 6,1006 71,000 7 End. Bal. 273,300 End. Bal. 69,000 Inventory Prepaid insurance Beg Bal. Beg Bal. 6. 3 80,000 71,000 4 6,100 End. Ral. 9,000 End. Bal.. 6,100 Equipment Accumulated depreciation Beg. Beg. Bal. Bal. 2. 41,000 1,100 9. End. Bal. 41,000 End. Bal. 1,100 Accounts payable Notes payable Beg Bal. 7. Beg Bal. 71,000 80,000 3 3. 30,5002 End. Bal. 9,000 End. Bal. 30,500 Common stock Sales revenue Beg Bal. Beg Bal. 310,000 1. 125,000 4. End. Bal. 310,000 End. Bal. 125,000 Cost of goods sold Rent expense Beg. Bal. 4. Beg. Bal. 5. 71,000 5,100 End. Bal. 71,000 End. Bal. 5,100 Depreciation expense Beg. Bal. 9. 1,100 End. Bal. 1,100 TAccounts Trial Balance Complete this question by entering your answers in the tabs below. T Accounts Trial Balance Prepare a trial balance from the ending account balances. Trial Balance Debits Account Title Common stock Cash Credits 310,000 273,300 30 41,000 30,500 > 9,000 9,000 Equipment Notes payable Inventory Accounts payable Sales revenue Accounts receivable Prepaid insurance Depreciation expense 125,000 69,000 6.100 1,100 Rent expense 5,100 Totals 404,600 474,500