Use the information from the T-accounts below to create the related journal entries. Provide an explanation for each journal entry. Cash 2 8,000 Accounts receivable 110,000 8,000 Inventory 15,000 4,000 Equipment 52,000 11,000 25,000 21,000 775,000 Bank loan Accounts payable Common shares Revenue 75,000 11,000 15,000 25,000 10,000 1 31,000 Cost of goods sold 4,000