Blue Spruce Corp.'s balance sheet at December 31, 2016, is presented below.

Blue Spruce Corp.

Balance Sheet

December 31, 2016

Cash$13,680Accounts payable$8,900Accounts receivable21,100Common stock21,800Allowance for doubtful accounts(740)Retained earnings13,330Inventory9,990$44,030$44,030

During January 2016, the following transactions occurred.Blue Spruce Corp.uses the perpetual inventory method.

Jan. 1Blue Spruce Corp.accepted a 4-month, 8% note from Betheny Company in payment of Betheny's $4,800account.3Blue Spruce Corp.wrote off as uncollectible the accounts of Walter Corporation ($500) and Drake Company ($300).8Blue Spruce Corp.purchased $18,800of inventory on account.11Blue Spruce Corp.sold for $25,700on account inventory that cost $16,020.15Blue Spruce Corp.sold inventory that cost $730to Jack Rice for $1,100. Rice charged this amount on his Visa First Bank card. The service fee chargedBlue Spruce Corp.by First Bank is 3%.17Blue Spruce Corp.collected $24,400from customers on account.21Blue Spruce Corp.paid $17,100on accounts payable.24Blue Spruce Corp.received payment in full ($300) from Drake Company on the account written off on January 3.27Blue Spruce Corp.purchased advertising supplies for $1,540cash.31Blue Spruce Corp.paid other operating expenses, $2,910.

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, 2017, accounts receivable.3.A count of advertising supplies on January 31, 2017, reveals that $510remains 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 dollars.)

Complete :

journal entries for the transactions listed above and adjusting entries.

Adjusted trial balance at January 31, 2017.

income statement.

retained earnings statement for the month ending January 31, 2017.

classified balance sheet as of January 31, 2017.