3. (To record sales revenue.) (To record cost of goods sold.) 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. Unrecorded transactions: 1. On May 1, 2020, Blossom purchased equipment for $17,600 plus sales taxes of $1,600 (all paid in cash). 2. On July 1, 2020, Blossom sold for $3,600 equipment which originally cost $5,200. Accumulated depreciation on this equipment at January 1, 2020, was $1,900; 2020 depreciation prior to the sale of the equipment was $400 3. On December 31, 2020, Blossom sold on account $5,100 of inventory that cost $3,300. 4. Blossom estimates that uncollectible accounts receivable at year-end is $3,900. 5. The note receivable is a one-year, 8% note dated April 1, 2020. No interest has been recorded. 6. The balance prepaid insurance represents payment of a $3,720 6-month premium on September 1, 2020. 7. The buildings are being depreciated using the straight-line method over 30 years. The salvage value is $30,000. 8. The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost. 9. The equipment purchased on May 1, 2020, is being depreciated using the straight-line method over 5 years, with a salvage value of $1,800. 10. The patent was acquired on January 1, 2020, and has a useful life of 10 years from that date. 11. Unpaid salaries and wages at December 31, 2020, total $2,000. 12. The unearned rent revenue of $5,400 was received on December 1, 2020, for 3 months' rent. 13. Both the short-term and long-term notes payable are dated January 1, 2020, and carry a 9% interest rate. All interest is payable in the next 12 months. *(a) Prepare journal entries for the transactions listed above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) No. Account Titles and Explanation Debit Credit 1. 2. (To record depreciation expense.) (To record sale of equipment.) 3. (To record sales revenue.) * Comprehensive Problem 9 (Part Level Submission) Blossom Company's trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described following the trial balance. Debit Credit Cash $26,000 Accounts Receivable 35,500 Notes Receivable 8,000 Interest Receivable -0- Inventory 36,500 Prepaid Insurance 3,720 Land 21,100 Buildings 120,000 Equipment 68,000 Patents 10,400 Allowance for Doubtful Accounts $400 Accumulated Depreciation-Buildings 40,000 Accumulated Depreciation Equipment 27,200 Accounts Payable 27,500 Salaries and Wages Payable -0- Unearned Rent Revenue 5,400 Notes Payable (due in 2020) 13,000 Interest Payable -0- Notes Payable (due after 2020) 35,500 Common Stock 53,000 Retained Earnings 41,620 Dividends 14,500 Sales Revenue 903,000 Interest Revenue -0- Rent Revenue -0- Gain on Disposal of Plant Assets -0- Bad Debts Expense -0- Cost of Goods Sold 632,000 Depreciation Expense -0- Insurance Expense -0- Interest Expense -0- Other Operating Expenses 61,900 Amortization Expense -0- Salaries and Wages Expense 109,000 ****