FULL SCREEN PRINTER VERSION RACK NEXT Application Problem 3-58 For each of the following transactions, prepare journal entries: (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 tits and enter for the amounts.) ih b. d e. f. 9. The company issued common shares for $143.000 The company borrowed $75,000 from a bank. (Use Bank Loan Payable) Inventory costing $51,800 was purchased on account Rented a retail space and paid a damage deposit of $9,000 Received a bill for advertising costs of $3.700 related to the grand opening Paid employees wages of $16,200. Inventory costing $36,900 was sold for $68,400, half for cash and half on account. (Hint: Two joumal entries are required.) A payment of $40,000 was made on accounts payable Accounts receivable totalling $20.500 were collected New equipment costing $125,000 was purchased for cash. The company paid $18,200 on its bank loan, which induded $10.500 of interest The company paid $9,500 for the monthly rent on its retail location The company's board declared and paid dividends of $12.900. Paid the advertising bill related to the grand opening (see transaction en h. i. 1. k. 1. m No. Account Titles and Explanation Debit Credit O anything BE 2 ENG 01:32 18-06-2000 n. Paid the advertising bill related to the grand opening (see transaction (e)). No. Account Titles and Explanation Debit Credit a. b. d. C d. e. f. 9 (To record sales revenue)