This problem has been solved! see the answerthe following transactions occurred during march 2018 for the wainwright corporation. the company owns and operates a wholesale warehouse.1. issued 47,000 shares of common stock in exchange for $470,000 in cash.2. purchased equipment at a cost of $57,000. $18,500 cash was paid and a note payable was signed for the balance owed.3. purchased inventory on account at a cost of $112,000. the company uses the perpetual inventory system.4. credit sales for the month totaled $205,000. the cost of the goods sold was $87,000.5. paid $6,700 in rent on the warehouse building for the month of march.6. paid $7,700 to an insurance company for fire and liability insurance for a one-year period beginning april 1, 2018.7. paid $87,000 on account for the merchandise purchased in 3.8. collected $72,000 from customers on account.9. recorded depreciation expense of $2,700 for the month on the equipment. post the above transactions to the below t-accounts. assume that the opening balances in each of the accounts is zero. prepare a trial balance from the ending account balances.