Below are separate transactions for Samar Company for the month of October. Prepare the suitable Journal entry under each transaction. 1. The owner Samar invests $80,000 in cash to start her business. 2. Samar company sold $500,000 of merchandise to Sunrise Company terms 2/10, n/30, FOB shipping point. 3. Sunrise Company was granted an allowance of $27,000 for merchandise purchased in transaction (2) 4. Samar Company Purchase equipment for $30,000 from Closets Co. on account. 5. Samar Company established a petty cash fund of $100. 6. The petty cash fund replenished when the fund contains $7 in cash and receipts for postage $52, freight out $26, and travel expense $10. 7. Samar Company paid Closets Co. for the equipment purchased in transaction (4) above. 8. Samar Company received the balance due (related to transaction 2) from Sunrise Company after 20 days