Pat Bjornson, owner of Pat’s Beauty Supply, completed the following business transactions during March 2003. Mar. Purchased $53,000 of inventory on credit. Collected $5,000 from customers as payments on their accounts. Purchased equipment for $3,000 cash. 6 Sold inventory that cost $30,000 to customers on account for $40,000. 10 Paid rent for March, $1,050. 15 Paid utilities for March, $100. 17 Paid a $300 monthly salary to the part-time helper. 20 Collected $33,000 from customers as payments on their accounts. 22 Paid $53,000 cash on account payable. (See March 1 entry.) 25 Paid property taxes for March of $1,200. 28 Sold inventory that cost $20,000 to customers for $30,000 cash. ON we 1. For each transaction, give the entry to record it in the company’s general journal. (Omit explanations.) 2. Set up T-accounts, and post the journal entries to their appropriate accounts.