Required Information Exercise 7-15A (Algo) Comprehensive single-cycle problem LO 7-1, 7.5, 7.6 [The following information applies to the questions displayed below.] The following post-closing trlal balance was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 1. Transactions for Year 2 1. LGS acquired an additional $11,300 cash from the issue of common stock. 2. LGS purchased $61,400 of Inventory on account. 3. LGS sold Inventory that cost $61,500 for $93,200. Sales were made on account. 4. The company wrote off $1,320 of uncollectible accounts. 5. On September 1, LGS loaned $7,000 to Eden Company The note had an 6 percent Interest rate and a one-year term. 6. LGS pald $15,200 cash for operating expenses. 7. The company collected $88,560 cash from accounts recelvable. 8. A cash payment of $45,480 was paid on accounts payable. 9. The company pald a $5,700 cash dividend to the stockholders. 10. Accepted credit cards for sales amounting to $3,100. The cost of goods sold was $1,700. The credit card company charges a 5 percent service charge. The cash has not been recelved. 11. Uncollectible accounts are estimated to be 3.5 percent of sales on account. 12. Recorded the accrued Interest at December 31, Year 2 xercise 7-15A (Algo) Part b Open T-accounts and record the beginning balances and the Year 2 transactions. (Round your answers to nearest whole dollar.) Exercise 7-15A (Algo) Part b b. Open T-accounts and record the beginning balances and the Year 2 transactions. (Round your answers to nearest whol \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Interest Revenue } \\ \hline Beginning Balance & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending Balance & & & \\ \hline \end{tabular}