Saved Help Save & Exit Dan Watson started a small merchandising business in Year 1. The business experienced the following events during its first year of operation. Assume that Watson uses the perpetual inventory system. 1. Acquired $29,000 cash from the issue of common stock. 2. Purchased inventory for $23,200 cash. 3. Sold inventory costing $15,000 for $31,000 cash. Required a. Record the events in general journal format. b. Post the entries to T-accounts. c. Determine the amount of gross margin. d. What is the amount of net cash flow from operating activities for Year 1? Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Record the events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction liat Journal entry worksheet Mc Recuru the events in yener de journai Tormal. (Il nu entry is requireu Tur a transactieven, SETELL NO JUL account field.) View transaction list Journal entry worksheet Record entry for issuance of common stock. Note: Enter debits before credits. Event General Journal Debit Credit 01 Record entry Clear entry View general journal rou 21 --- Required A Required B Required C Required D Record the events in general journal format. (If no entry is required for a transaction/event, select "N. account field.) View transaction list Journal entry worksheet 3 4 > Record the entry of inventory purchased for cash. Note: Enter debits before credits. Event General Journal Debit Credit 2. Required A Required B Required C Required D Record the events in general journal format. (If no entry is required for a transaction/event, select account field.) View transaction list Journal entry worksheet Required A Required B Required C Required D Record the events in general journal format. (If no entry is required for a transaction/event, select account field.) View transaction list Journal entry worksheet Saved Help Sa Required A Required B Required C Required D Post the entries to T-accounts. Cash Common Stock Beg. Bal. Beg. Bal. End. Bal. End. Bal. Merchandise Inventory Sales Revenue Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. Cost of Goods Sold Beg Bal. End. Bal. ved u. WIJL IS NIE dlount One CdS HOW IT om peidung allIVILIES 101 Edi! Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Determine the amount of gross margin. DAN WATSON MERCHANDISING Income Statement For the Year Ended December 31, Year 1 0 2. Purchased inventory 3. Sold inventory costing $15,000 for $31,000 cash. Required a. Record the events in general journal format. b. Post the entries to T-accounts. c. Determine the amount of gross margin. d. What is the amount of net cash flow from operating activities for Year 1? Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D What is the amount of net cash flow from operating activities for Year 1? (Indicate cash outflows with m Net cash flow from operating activities