Blossom Company's balance sheet at December 31, 2021, is presented below. Blossom Company Balance Sheet December 31, 2021 Cash $13,850 Accounts payable $8,650 19,000 Accounts receivable 21.200 Common stock Allowance for doubtful accounts Retained earnings 15,800 Inventory (810) 9,210 $43.450 $43,450 During January 2022, the following transactions occurred. Blossom uses the perpetual inventory method. Jan. 1 Blossom accepted a 4-month, 8% note from Betheny Company in payment of Betheny's $3,600 account. 3 Blossom wrote off as uncollectible the accounts of Walter Corporation ($400) and Drake Company (5200). 8 Blossom purchased $18.420 of inventory on account. 11 Blossom sold for $25,500 on account inventory that cost $16,150. 15 Blossom sold inventory that cost $770 to Jack Rice for $1,100. Rice charged this amount on his Visa First Bank card. The service fee charged Blossom by First Bankis 39 17 Blossom collected $21,800 from customers on account. 21 Blossom paid $17.640 on accounts payable. 24 Blossom received payment in full ($200) from Drake Company on the account written off on January 3. 27 Blossom purchased advertising supplies for $1.330 cash. 31 Blossom paid other operating expenses. $3,050. Type here to search TOSHIBA 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 $540 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 dollar (You may want to set up T-accounts to determine ending balances.) Prepare journal entries for the transactions listed above and adjusting entries. (Include entries for cost of goods sold using the perpetual inventory system.) (Round places, eg. 1.250. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem Date Account Titles and Explanation Debit Credit Type here to search dies revenues.) (To record cost of goods sold.) (To record sales revenues and service charges) To record cost of goods sold.) (To record cash received from Drake Company) Prepare an adjusted trial balance at January 31, 2022. (Round answers to decimal places, eg. 1,250) BLOSSOM COMPANY Adjusted Trial Balance Debit Credit Type here to wa Home statement for the month ending January 31, 2022. (Round answers to decimal places, s. 1.250) BLOSSOM COMPANY Income Statement Type here to search Prepare a retained earnings statement for the month ending January 31, 2022. (Round answers to O decimal places, e.g. 1,250.) BLOSSOM COMPANY Retained Earnings Statement e Textbook and Media List of Accounts decimal places, es. 1.250 Prepare a classified balance sheet as of January 31, 2022. (List Current Assets in order of liquidity Round answers to BLOSSOM COMPANY Balance Sheet Assets 090 Type here to search Liabilities and Stockholders' Equity e Textbook and Media List of Accounts (To record cost of goods sold.) (To record sales revenues and service charges.) (To record cost of goods sold.) Type here to search o 9