$1$ On January $1,2022,$ Phoenix issued $1,200$ shares of $$40$ par, $7\%$ preferred stock for $$49,200.$

$2$ On January $1,2022,$ Phoenix also issued $900$ shares of the $$10$ par value common stock for $$21,000.$

$3$ Phoenix performed services for $$320,000$ on account.

$4$ On April $1,2022,$ Phoenix collected cash of $$36,000$ in advance for services to be performed evenly from April $1,2022,$ to March $31,2023.$

$5$ Phoenix collected $$276,000$ from customers on account.

$6$ Phoenix bought $$35,100$ of supplies on account.

$7$ Phoenix paid $$32,200$ on accounts payable.

$8$ Phoenix reacquired $400$ shares of its common stock on June $1,2022,$ for $$28$ per share.

$9$ Paid salaries of $$188,200.$

$10$ January $15,2023.$

$11$ An account receivable of $$1,700$ which originated in $2021$ is written off as uncollectible.

Adjustment data:

$1$ A count of supplies indicates that $$5,900$ of supplies remain unused at year$-$end.

$2$ Recorded revenue from #$4$ above for the services performed as of year end.

$3$ The allowance for doubtful accounts should have a balance of $$3,500$ at year end.

$4$ Depreciation is recorded on the building on a straight$-$line basis based on a $30-$year life and a salvage value of $$10,000.$

Instructions $$Journalize the above transactions

Prepare an adjusted trial balance

prepare income statement and retained earning statement for the month ending $123122$ and a classified balance sheet as $123122$

Prepare closing entries and a PCTB