1. a.) Prepare journal entries for the transactions listed above

b.) prepare adjusted trial balances

c.) prepare income state,emt

d.)prepare earning statements for the month end

e.) prepare a classified balance sheet

Sandhill Co's balance sheet at December 31, 2021, is presented below. Sandhill Co. Balance Sheet December 31, 2021 Cash $13,170 Accounts payable $8,060 Accounts receivable 19,800 Common stock 19,800 Allowance for doubtful accounts (760) Retained earnings 14,440 Inventory 10,090 $42,300 $42,300 During January 2022, the following transactions occurred. Sandhill uses the perpetual inventory method. Jan. 1 Sandhill accepted a 4-month, 8% note from Betheny Company in payment of Betheny's $1,200 account. 3 Sandhill wrote off as uncollectible the accounts of Walter Corporation ($500) and Drake Company ($200). 8 Sandhill purchased $15,490 of inventory on account. 11 Sandhill sold for $27,000 on account inventory that cost $16,580. 15 Sandhill sold inventory that cost $680 to Jack Rice for $1,100. Rice charged this amount on his Visa First Bank card. The service fee charged Sandhill by First Bank is 3%. 17 Sandhill collected $24,200 from customers on account. 21 Sandhill paid $15,420 on accounts payable. 24 Sandhill received payment in full ($200) from Drake Company on the account written off on January 3. 27 Sandhill purchased advertising supplies for $1,280 cash. 31 Sandhill paid other operating expenses. $3,030. Adjustment data: 1. Interest is recorded for the month on the note from January 1. 2. Bad debts are expected to be 6% of the January 31, 2022, accounts receivable. 3. A count of advertising supplies on January 31, 2022, reveals that $550 remains unused. 4. The income tax rate is 30%. (Hint: Prepare the income statement up to Income before taxes and multiply by 30% to compute the amount; round to whole dollars.) (You may want to set up T-accounts to determine ending balances.)