I only need help with number 7 that shows it is marked wrong.

Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 Summarized here are the transactions/events that took place during the fiscal year ended September 30, 2020. Prepare journal entries for the below transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1. Credit sales for the year amounted to $264,000. The cost of goods sold was $171,600. 2. Collected accounts receivable, $277,200. 3. Purchased inventory on account, $184,800. 4. Issued 550 shares of common stock for $20 per share. 5. Wrote off $7,700 of uncollectible accounts using the allowance for bad debts. 6. Declared and paid a cash dividend, $22,000. 7. Sold marketable securities costing $28,600 for $34,100 in cash. 8. Recorded insurance expense for the year, $13,200. The premium for the policy was paid in June 2019. 9. Borrowed cash on a short-term bank loan, $11,000. 10. Repaid principal of $44,000 and interest of $3,300 on a long-term bank loan. Show less No Transaction General Journal Debit Credit 1 1(a) Accounts receivable 264,000 Sales 264,000 2 1(b) 171,600 Cost of goods sold Merchandise inventory 171,600 3 02 Cash 277,200 Accounts receivable 277,200 4 03 184,800 Merchandise inventory Accounts payable 184,800 5 04 Cash 11,000 Common stock/Additional paid-in capital 11,000 6 05 Allowance for bad debts 7,700 Accounts receivable 7,700 7 06 Dividends payable x 22,000 Cash 22,000