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Ilse this information to answer the following questions: 1100 Cash 1120 Short-term investments 1130 Notes receivable 1140 Accounts receivable 1145 Loan receivable 1150 Interest receivable 1160 Other accrued receivables 1200 Inventory 1250 Supplies 1260 Prepaid rent 1320 Buildings and equipment (B&E) 1325 Accumulated depreciation-B&E 2110 Notes payable (short-term) 2120 Interest payable 2130 Accounts payable 140 Deferred service revenue 2150 Salaries payable 2160 Dividends payable 2170 Property taxes payable 2180 Rent payable b200 Notes payable (long-term) 3100 Common stock 3200 Retained earnings 5000 Sales revenue 5300 Interest revenue 6000 Cost of goods sold 6200 Advertising expense 6210 Miscellaneous expense 6220 Depreciation expense 6230 Insurance expense 6240 Property tax expense 6250 Rent expense 6260 Supplies expense 6270 Salaries expense 6400 Interest expense 6999 Dividends Required: Using the chart of accounts provided, indicate by account number the account or accounts that would be debited and credited in the following transactions. Also enter the letter A, B, or C to indicate the type of transaction as: (A) an external transaction, (B) an internal transaction recorded as an adjusting journal entry, or (C) a closing entry. The company uses a perpetual inventory system. All prepayments are initially recorded in permanent accounts. Example: Sold $110,000,000 in common stock for cash. 1. Answer to example: Transaction Account(s) debited 1100 Account(s) credited 3100 Transaction Type Transaction 1. Purchased building and equipment for $10,000,000, paying 20% cash and issuing a 30-year note for the balance. 2. Invested idle cash in short term investments. 3. Accrued the interest rcognized but not collected on notes receivable. 4. Collected cash on account from customers. 5. Closed dividends account, assuming there was a net income for the period

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