The following transactions occurred during march 2021 for the wainwright corporation. the company owns and operates a wholesale warehouse. issued 48,000 shares of non-par common stock in exchange for $480,000 in cash. purchased equipment at a cost of $76,000. $19,000 cash was paid and a notes payable to the seller was signed for the balance owed. purchased inventory on account at a cost of $146,000. the company uses the perpetual inventory system. credit sales for the month totaled $210,000. the cost of the goods sold was $126,000.paid $6,500 in rent on the warehouse building for the month of march. paid $7,150 to an insurance company for fire and liability insurance for a one-year period beginning april 1, 2021.paid $126,000 on account for the merchandise purchased in 3.collected $94,500 from customers on account. recorded depreciation expense of $1,900 for the month on the equipment.