VSweet Dreams Chocolatiers Ltd$.$ began operations on January $1,2020.$ During its first year, the following transactions occurred:$1.$Issued common shares for $$200,000$ cash$\mathrm{.}2.$Purchased $$484,000$ of inventory on account$\mathrm{.}3.$Sold inventory on account for $$656,000.$ The original cost of the inventory that was sold was $$394,000\mathrm{.}4.$Collected $$567,000$ from customers on account$\mathrm{.}5.$Paid $$404,000$ to suppliers for the inventory previously purchased on account$\mathrm{.}6.$Bought a delivery vehicle for $$35,000$ cash$\mathrm{.}7.$Paid $$23,400$ for rent, including $$1,800$ related to the next year$\mathrm{.}8.$Incurred $$35,000$ of operating expenses, of which $$33,000$ was paid$\mathrm{.}9.$Recorded $$1,900$ of depreciation on the vehicle$\mathrm{.}10.$Declared and paid dividends of $$7,500.$Prepare journal entries to record each of the above transactions. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$No$.$Account Titles and ExplanationDebitCredit$1.$Enter an account title.Enter a debit amount. Enter a credit amount. Enter an account title.Enter a debit amount. Enter a credit amount. $2.$Enter an account title.Enter a debit amount. Enter a credit amount. Enter an account title.Enter a debit amount. Enter a credit amount. $3.$Enter an account title to record sale of goods.Enter a debit amount. Enter a credit amount. Enter an account title to record sale of goods.Enter a debit amount. Enter a credit amount. $($To record sale of goods$)$Enter an account title to record the cost.Enter a debit amount. Enter a credit amount. Enter an account title to record the cost.Enter a debit amount. Enter a credit amount. $($To record the cost$)4.$Enter an account title.Enter a debit amount. Enter a credit amount. Enter an account title.Enter a debit amount. Enter a credit amount. $5.$Enter an account title.Enter a debit amount. Enter a credit amount. Enter an account title.Enter a debit amount. Enter a credit amount. $6.$Enter an account title.Enter a debit amount. Enter a credit amount. Enter an account title.Enter a debit amount. Enter a credit amount. $7.$Enter an account title.Enter a debit amount. Enter a credit amount. Enter an account title.Enter a debit amount. Enter a credit amount. Enter an account title.Enter a debit amount. Enter a credit amount. $8.$Enter an account title.Enter a debit amount. Enter a credit amount. Enter an account title.Enter a debit amount. Enter a credit amount. Enter an account title.Enter a debit amount. Enter a credit amount. $9.$Enter an account title.Enter a debit amount. Enter a credit amount. Enter an account title.Enter a debit amount. Enter a credit amount. $10.$Enter an account title.Enter a debit amount. Enter a credit amount. Enter an account title.Enter a debit amount. Enter a credit amount. eTextbook and MediaList of AccountsPost the journal entries to the following T accounts. $($Post entries in the order of journal entries presented in the previous question. If beginning balance is zero, enter $0$ in the column for the normal balance for that account.$)$CashChoose an option.Enter a debit amount. Choose an option.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose an option.Enter a debit balance. Choose an option.Enter a credit balance. Accounts ReceivableChoose an option.Enter a debit amount. Choose an option.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose an option.Enter a debit balance. Choose an option.Enter a credit balance. Prepaid RentChoose an option.Enter a debit amount. Choose an option.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose an option.Enter a debit balance. Choose an option.Enter a credit balance. InventoryChoose an option.Enter a debit amount. Choose an option.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose an option.Enter a debit balance. Choose an option.Enter a credit balance. VehiclesChoose an option.Enter a debit amount. Choose an option.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose an option.Enter a debit balance. Choose an option.Enter a credit balance. Accumulated Depreciation, VehiclesChoose an option.Enter a debit amount. Choose an option.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose an option.Enter a debit balance. Choose an option.Enter a credit balance. Accounts PayableChoose an option.Enter a debit amount. Choose an option.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose an option.Enter a debit balance. Choose an option.Enter a credit balance. Common SharesChoose an option.Enter a debit amount. Choose an option.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose an option.Enter a debit balance. Choose an option.Enter a credit balance. Dividends DeclaredChoose an option.Enter a debit amount. Choose an option.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose an option.Enter a debit balance. Choose an option.Enter a credit balance. Sales RevenueChoose an option.Enter a debit amount. Choose an option.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose an option.Enter a debit balance. Choose an option.Enter a credit balance. Cost of Goods SoldChoose an option.Enter a debit amount. Choose an option.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose an option.Enter a debit balance. Choose an option.Enter a credit balance. Rent ExpenseChoose an option.Enter a debit amount. Choose an option.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose an option.Enter a debit balance. Choose an option.Enter a credit balance. Operating ExpenseChoose an option.Enter a debit amount. Choose an option.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose an option.Enter a debit balance. Choose an option.Enter a credit balance. Depreciation ExpenseChoose an option.Enter a debit amount. Choose an option.Enter a credit amount. Choose a transaction number.Enter a debit amount. Choose a transaction number.Enter a credit amount. Choose an option.Enter a debit balance. Choose an option.Enter a credit balance. eTextbook and MediaList of AccountsPrepare a December $31,2020,$ trial balance. $($Do not list those accounts that have zero ending balance.$)$Sweet Dreams Chocolatiers Ltd$.$Trial BalanceDecember $31,2020$DebitCreditEnter an account title.$Enter a debit balance. $Enter a credit balance. Enter an account title.Enter a debit balance. Enter a credit balance. Enter an account title.Enter a debit balance. Enter a credit balance. Enter an account title.Enter a debit balance. Enter a credit balance. Enter an account title.Enter a debit balance. Enter a credit balance. Enter an account title.Enter a debit balance. Enter a credit balance. Enter an account title.Enter a debit balance. Enter a credit balance. Enter an account title.Enter a debit balance. Enter a credit balance. Enter an account title.Enter a debit balance. Enter a credit balance. Enter an account title.Enter a debit balance. Enter a credit balance. Enter an account title.Enter a debit balance. Enter a credit balance. Enter an account title.Enter a debit balance. Enter a credit balance. Enter an account title.Enter a debit balance. Enter a credit balance. Enter an account title.Enter a debit balance. Enter a credit balance. Totals$Enter a total for the debit column. $Enter a total for the credit column. eTextbook and Media