Accounting Cycle Review 15 a-e Blossom Corporation's trial balance at December 31, 2020, is presented below. All 202D transactions have been recorded except for the items descnbed below. Debit Credit $25,000 Accounts Receivable 52,000 22,800 Land 66,800 Buildings 83,600 Equipment 38,000 Allowance for Doubtful Accounts $410 26,000 15,400 Accounts Payable 19,300 Interest Payable Dividends Payable Unearned Rent Revenue 8,000 Bonds Payable (1096) 52,000 Comman Stock $10 par) 28,000 Paid-in Capital in Excess of Par-Common Stock ,500 Preferred Stack ($20 par) Paid-in Capital in Excess of Par-Preferred Stock Retained Earnings 25,990 Treasury Stock Cash Dividends Sales Revenue 619,000 Rent Revenue Bad Debt Expense Interest Expense Cost of Goods Sold 407,000 Depreciation Expense Other Operating Expenses 39,600 Salaries and Wages Expense 64,900 $799,700 $799,700 Total I. On January 1, 2020, Blossom issued 1,000 shares of $20 par, 6% preferred stock for $22,000 2. On January 1, 2020, Blossom also issued 1,000 shares of common stock for $24,000 3. Blossom reacquired 320 shares of its common stock on July 1, 2020, for $47 per share. 4. On December 31, 2020, Blossom declared the annual cash dividend on the preferred stock and a $1.40 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 $5,200. 6. The building is being depreciated using the straight-line method over 30 years. The salvage value is $5,600 7. The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $3,800. 8. The unearned rent was collected on October 1, 2020. It was receipt of 4 manths rent in advance (October 1, 2020 through January 31, 2021) 9. The 10% bonds payable pay interest everyanuary 1, The interest for the 12 months ended December 31, 202D, has not been paid or recorded. Prepare journal entries for the transactions and adjustment listed above. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. 6. 8. Prepane a mukipke step income stateme for the vear ending Decembe 31, 2020. (List other revenues before other expenses. Prepare a retained eamngs statement for the year ending December 31, 2020. (List items that increase retained earning SL) prepare a dassified balance sheer as of December 31 2020. List Currant Assets in a der aliquidity List Property, Pla nt and Equipment in a der af Land, Buildings and Equipment. Enter account narne anly and do nat provide descriptive information. Liabilities and Stockholders' Equity