Blossom Corporation's balance sheet at December 31, 2021, is presented as follows. BLOSSOM CORPORATION Balance Sheet December 31, 2021 Cash $25.900 Accounts payable Accounts receivable 48,100 Common stock ($10 par) Allowance for doubtful accounts (1.700) Retained earnings Supplies 4,100 Land 36,300 Buildings 144,600 Accumulated depreciation-buildings (22.500) $234,800 $27.900 77,000 129,900 $234,800 During 2022. the following transactions occurred. On January 1, 2022, Blossom issued 1.200 shares of $40 par, 7% preferred stock for $49,200. 2 On January 1, 2022, Blossom also issued 1,000 shares of the $10 par value common stock for $19,800 3 Blossom performed services for $303,000 on account. On April 1, 2022, Blossom collected fees of $34,000 in advance for services to be performed from April 1. 2022 to March 31, 2023 5. Blossom collected $264.800 trom customers on account 6. Blossom bought $31,600 of supplies on account. 7. Blossom paid $34.600 on accounts payable Blossom reacquired 300 shares of its common stock on June 1.2022 for $29 per share. Paid other operating expenses of $191.200 10 On December 31, 2022, Blossomdeclared the annual preferred stock dividend and a $1.20 por share dividend on the outstanding common stock, alt cavable on January 15, 2023 An account receivable of $1.900 which originated in 2021 is written off as uncollectible. Adjustment data 1 2 A count of supplies indicates that $6.500 of supplies remain used a year-end Recorded revenue from item 4 above The allowance for doubtfol accounts should have a balance of 53.900 Myear end Depreciation recorded on the building on a straight-line basis based on a 30-year e anda salvape value of The income tax rates 30. Mint Prepare the income statement up to Income before income taxes and muy bo to compute the sount 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. Record journal entries in the order presented in the problem.) Debit Credit No. Account Titles and Explanation 1. 2. 3. 4. 5. 6. 7. B 9. 10. 11