pter 7 Homework-Algo i Saved Help Save & Ex 13 Check Year 1. The following post-closing trial balance was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Debit Cash Credit , t 1 of 3 $5 , 330 Accounts receivable 19 , 525 Allowance for doubtful accounts $1, 915 Inventory 24, 040 Accounts payable 7, 075 Common stock 19 , 500 Retained earnings 20, 405 Totals $48, 895 $48 , 895 eBook Transactions for Year 2 Hint 1. LGS acquired an additional $11,000 cash from the issue of common stock. Print 2. LGS purchased $60,600 of inventory on account. eferences 3. LGS sold inventory that cost $60,400 for $95,400. Sales were made on account. 4. The company wrote off $940 of uncollectible accounts. 5. On September 1, LGS loaned $8,500 to Eden Company The note had an 9 percent interest rate and a one-year term. 6. LGS paid $14,250 cash for operating expenses. 7. The company collected $77,680 cash from accounts receivable. 8. A cash payment of $46,430 was paid on accounts payable. 9. The company paid a $4,400 cash dividend to the stockholders. 10. Accepted credit cards for sales amounting to $3,900. The cost of goods sold was $1,900. The credit card company charges a 4 percent service charge. The cash has not been received. 11. Uncollectible accounts are estimated to be 1.5 percent of sales on account. 12. Recorded the accrued interest at December 31, Year 2. Required raw O e here to search O WE FEE13 Required a. Record the given transactions in general journal form. (If no entry is required for a transaction/event, select "No journal entry Part 1 of 3 required" in the first account field. Round your answers to nearest whole dollar.) View transaction list 1.66 points Journal entry worksheet eBook A B C D E F G H . . . . . N Hint Record the issuance of additional common stock. Print References Note: Enter debits before credits. Event General Journal Debit Credit 1 . Record entry Clear entry View general journal Mc Hill ype here to search O m WE hpPart 1 of 3 Journal entry worksheet A C D E G H N 1.66 points Record purchase of inventory on account. eBook Hint Note: Enter debits before credits. Print Event General Journal Debit Credit References 2 . Record entry Clear entry View general journal Mc Graw Hill Type here to search O WERecord sale of inventory on account. ote: Enter debits before'credits. 13 ! Required information Part 1 of 3 Journal entry worksheet A B C E F G H. . . . N 1.66 I... points Record cost of goods sold. eBook Hint Note: Enter debits before credits. Print Event General Journal Debit Credit References 3b Record entry Clear entry View general journal Mc Graw Hill Type here to search O WE DM13 Required information Part 1 of 3 Journal entry worksheet Graw Graw Type here to search O Hi O hpChapter 7 Homework-Algo i Saved 13 Required information Part 1 of 3 Journal entry worksheet Hill Type here to search O M WE O hpSaved 13 Required information Part 1 of 3 Journal entry worksheet Hill Type here to search O hpChapter 7 Homework-Algo i Saved 13 Required information Part 1 of 3 Journal entry worksheet A . .. . G H I J K M N 1.66 points Record cost of goods sold. eBook Hint Note: Enter debits before credits. Print Event General Journal Debit Credit References 10b Record entry Clear entry View general journal Mc Graw Hill Type here to search O m WEChapter 7 Homework-Algo i Saved 13 Required information Part 1 of 3 Journal entry worksheet A . . . . G H J K L M N 1.66 points Record the entry for uncollectible accounts, estimated to be 1.5 percent of sales on account. eBook Hint Note: Enter debits before credits. Print Event General Journal Debit Credit References 11 Record entry Clear entry View general journal Mc Graw Type here to search O WE FEE hp13 Required information Part 1 of 3 Journal entry worksheet Type here to search O Im WE hp