The following transactions occurred during March 2024 for the Right Corporation. The company operates a wholesale warehouse.

1. Issued 30,000 shares of no-par common stock in exchange for $300,000 in cash.
2. Purchased equipment at a cost of $40,000. Cash of $10,000 was paid and a note payable to the seller was signed for the balance owed.
3. Purchased inventory on account at a cost of $90,000. The company uses the perpetual inventory system.
4. Credit sales for the month totaled $120,000. The cost of the goods sold was $70,000.
5. Paid $5,000 in rent on the warehouse building for the month of March.
6. Paid $6,000 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2024.
7. Paid $70,000 on account for the inventory purchased in transaction 3.
8. Collected $55,000 from customers on account.
9. Recorded depreciation expense of $1,000 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.

Please complete the question in the same format!! thank you.

Complete this question by entering your answers in the tabs below. Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zero. Note: Enter the number of the transaction in the column next to the amount. Prepare a trial balance from the ending account balances