You have decided to take your experience working with Jones Surf Shop and Pacific Surfboard and start a consulting firm of your own. Your first client is Playtime, inc. Playtime's primary business is buying and selling swingsets. The following balance were taken from Playtime, Inc at the beginning of August. Playtime, Inc Trial Balance 30-Jul Account Title Debit Credit Accounts Payable $ 35,619 Accounts Receivable $ 27,800 Accumulated Depreciation $ 11,000 Advertising Expense $ 8,950 Cash $ 198,375 Common Stock $ 50,000 Cost of Goods Sold $ 157,890 Depreciation Expense $ 7,000 Equipment $ 80,000 Interest Expense $ 4,361 Interest Payable $ - Inventory $ 89,576 Notes Payable $ 141,742 Rent Expense $ 57,400 Retained Earnings $ 244,852 Revenue $ 278,950 Salaries Expense $ 125,300 Salaries Payable $ - Sales Tax Payable $ 12,793 Supplies $ 7,865 Supplies Expense $ 12,489 Unearned Revenue $ 8,900 Utility Expense $ 6,850 During the month of August, Playtime experienced the following events - help them create the journal entry to record these events A. August 1 - Purchased inventory on account for $57,750 - Terms are 10/2 Net 20 JOURNAL Date Description Debit Credit