This problem helps you develop skill in recording transactions by using a company's actual account titles. Refer to the Target Corporation financial statements in Appendix A. Assume that Target completed the following selected transactions during October 2001: Oct. 5 Earned sales revenue on account. $110.000. 27 9 19 1222 28 Required Borrowed $500,000 by signing a note payable (long-term debt). Purchased equipment and paid cash, $50,000. Paid $100,000, a current maturity of a long-term debt, plus interest expense of $8,000. Earned sales revenue and immediately received cash of $86.000. Collected half the cash on account that was earned on October 5. Received a home-office electricity bill for $3,000, which will be paid in November (this is an administrative expense). Journalize these transactions, using the following account titles taken from the Target finan- cial statements: Cash: Retained Securitized Receivables (same as Accounts Receivable). Equipment: Accounts Payable: Current Portion of Long-Term Debt: Long-Term Debt: Sales (Revenue), Selling, General and Administrative Expense: Interest Expense. Explanations are not required.