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. 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. Accounts payable \begin{tabular}{|l|l|l|l|} \hline Beginning Balance & & 0 & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending Balance & & & \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|} \hline \multicolumn{3}{|c|}{ Common stock } \\ \hline Beginning Balance & & 0 & \\ \hline & & 300,000 & 1. \\ \hline 1. & & & \\ \hline & & & \\ \hline Ending Balance & & & \\ \hline \multicolumn{3}{|l|}{} \\ \hline \end{tabular} Notes payable \begin{tabular}{|l|l|l|l|} \hline Beginning Balance & & 0 & \\ \hline 2. & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending Balance & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Sales revenue } \\ \hline Beginning Balance & & 0 & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending Balance & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|} \hline \multicolumn{3}{|c|}{ Rent expense } \\ \hline Beginning Balance & \multicolumn{2}{|c|}{0} & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending Balance & & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Trial Balance