Check my work mode : This shows what is correct or incorrect for the work you have completed so far It The following transactions occurred during March 2018 for the Wainwright Corporation. The company owns and operates a wholesale warehouse 1. Issued 22,000 shares of common stock in exchange for $220,000 in cash 2. Purchased equipment at a cost of $24,000. $6.000 cash was paid and a note payable was signed for the balance owed 3. Purchased inventory on account at a cost of $68,000. The company uses the perpetual inventory system 4. Credit sales for the month totaled $80,000. The cost of the goods sold was $48,000 5. Paid $3,250 in rent on the warehouse building for the month of March 6. Paid $5,350 to an insurance company for fire and liability insurance for a one-year period beginning April 1,2018 7. Paid $48,000 on account for the merchandise purchased in 3 8. Collected $36,000 from customers on account. 9. Recorded depreciation expense of $600 for the month on the equipment Prepare journal entries to record each of the transactions listed above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 8 Answer is not complete. O 220,000 01 Cash 220,000 Common stock 24000 02 Equipment 6,000 18,000 Cash Note payable 01 680000 03 Accounts payable 0,000 4a 048,000 Sales revenue 40 000 Rent expense 3250