Accounting Cycle Review 15 a e Blossom Corporations trial balance at December 31, 2020, is presented below All 2020 transactions have been recorded except for the items described below Debit Credit Cash $26,600 Accounts Receivable 51,000 Inventory 22,600 Land 63,700 Buildings 94,400 Equipment 30,000 Allowance for Doubtful Accounts $440 Accumulated DepreciationBuildings 29,500 Accumulated DepreciationEquipment 12,600 Accounts Payable 19,500 Interest Payable 0 Dividends Payable 0 Unearned Rent Revenue 8,000 Bonds Payable (10 ) 54,000 Common Stock ($10 par) 27,000 Paid in Capital in Excess of ParCommon Stock 5,400 Preferred Stock ($20 par) 0 Paid in Capital in Excess of ParPreferred Stock 0 Retained Earnings 33,960 Treasury Stock 0 Cash Dividends 0 Sales Revenue 590,000 Rent Revenue 0 Bad Debt Expense 0 Interest Expense 0 Cost of Goods Sold 391,000 Depreciation Expense 0 Other Operating Expenses 37,700 Salaries and Wages Expense 63,400 Total $780,400 $780,400 Unrecorded transactions and adjustments 1 On January 1, 2020, Blossom issued 1,200 shares of $20 par, 6 preferred stock for $27,600 2 On January 1, 2020, Blossom also issued 1,000 shares of common stock for $25,000 3 Blossom reacquired 290 shares of its common stock on July 1, 2020, for $46 per share 4 On December 31, 2020, Blossom declared the annual cash dividend on the preferred stock and a $1 30 per share dividend on the outstanding common stock, all payable on January 15, 2021 5 Blossom estimates that uncollectible accounts receivable at year end is $5,100 6 The building is being depreciated using the straight line method over 30 years The salvage value is $5,900 7 The equipment is being depreciated using the straight line method over 10 years The salvage value is $3,000 8 The unearned rent was collected on October 1, 2020 It was receipt of 4 months rent in advance (October 1, 2020 through January 31, 2021) 9 The 10 bonds payable pay interest every January 1 The interest for the 12 months ended December 31, 2020, has not been paid or recorded A PREPARE JOURNAL ENTRIES FOR THE TRANSACTIONS AND ADJUSTMENT LISTED ABOVE B PREPARE AN UPDATES DECEMBER 31,2020, TRIAL BALANCE, REFLECTING THE JOURNAL ENTRIES IN PART (A) C PREPARE A MULTIPLE STEP INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31,2020 D PREPARE A RETAINED EARNINGS STATEMENT FOR THE YEAR ENDING DECEMBER 31,2020 E PREPARE A CLASSIFIED BALANCE SHEET AS OF DECEMBER 31,2020 PLEASE HELP ME OUT ACCOUNTING WAS NEVER MY BEST SUBJECT

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Accounting Cycle Review 15 a-e Blossom Corporations trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the

Accounting Cycle Review 15 a-e

Blossom Corporations trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described below.

	Debit	Credit
Cash	$26,600
Accounts Receivable	51,000
Inventory	22,600
Land	63,700
Buildings	94,400
Equipment	30,000
Allowance for Doubtful Accounts		$440
Accumulated DepreciationBuildings		29,500
Accumulated DepreciationEquipment		12,600
Accounts Payable		19,500
Interest Payable		0
Dividends Payable		0
Unearned Rent Revenue		8,000
Bonds Payable (10%)		54,000
Common Stock ($10 par)		27,000
Paid-in Capital in Excess of ParCommon Stock		5,400
Preferred Stock ($20 par)		0
Paid-in Capital in Excess of ParPreferred Stock		0
Retained Earnings		33,960
Treasury Stock	0
Cash Dividends	0
Sales Revenue		590,000
Rent Revenue		0
Bad Debt Expense	0
Interest Expense	0
Cost of Goods Sold	391,000
Depreciation Expense	0
Other Operating Expenses	37,700
Salaries and Wages Expense	63,400
Total	$780,400	$780,400

Unrecorded transactions and adjustments:

1.		On January 1, 2020, Blossom issued 1,200 shares of $20 par, 6% preferred stock for $27,600.
2.		On January 1, 2020, Blossom also issued 1,000 shares of common stock for $25,000.
3.		Blossom reacquired 290 shares of its common stock on July 1, 2020, for $46 per share.
4.		On December 31, 2020, Blossom declared the annual cash dividend on the preferred stock and a $1.30 per share dividend on the outstanding common stock, all payable on January 15, 2021.
5.		Blossom estimates that uncollectible accounts receivable at year-end is $5,100.
6.		The building is being depreciated using the straight-line method over 30 years. The salvage value is $5,900.
7.		The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $3,000.
8.		The unearned rent was collected on October 1, 2020. It was receipt of 4 months rent in advance (October 1, 2020 through January 31, 2021).
9.		The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2020, has not been paid or recorded. A--PREPARE JOURNAL ENTRIES FOR THE TRANSACTIONS AND ADJUSTMENT LISTED ABOVE B--PREPARE AN UPDATES DECEMBER 31,2020, TRIAL BALANCE, REFLECTING THE JOURNAL ENTRIES IN PART (A) C--PREPARE A MULTIPLE-STEP INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31,2020 D--PREPARE A RETAINED EARNINGS STATEMENT FOR THE YEAR ENDING DECEMBER 31,2020 E--PREPARE A CLASSIFIED BALANCE SHEET AS OF DECEMBER 31,2020 PLEASE HELP ME OUT. ACCOUNTING WAS NEVER MY BEST SUBJECT......