Debit		Credit
Cash		$22,440
Accounts Receivable		44,880
Inventory		19,976
Land		57,200
Buildings		83,600
Equipment		35,200
Allowance for Doubtful Accounts				$396
Accumulated DepreciationBuildings				26,400
Accumulated DepreciationEquipment				12,672
Accounts Payable				16,984
Interest Payable				0
Dividends Payable				0
Unearned Rent Revenue				7,040
Bonds Payable (10%)				44,000
Preferred Stock ($20 par)				0
Paid-in Capital in Excess of ParPreferred Stock				0
Common Stock ($10 par)				26,400
Paid-in Capital in Excess of ParCommon Stock				5,280
Retained Earnings				66,044
Treasury Stock		0
Cash Dividends		0
Sales Revenue				501,600
Rent Revenue				0
Bad Debt Expense		0
Interest Expense		0
Cost of Goods Sold		352,000
Depreciation Expense		0
Other Operating Expenses		34,320
Salaries and Wages Expense		57,200
Total		$706,816		$706,816

PLEASE ANSWER ALL QUESTIONS OR I WILL MARK IT AS INCORRECT

Prepare journal entries for the transactions and adjustment

1.On January 1, 2022, Oriole issued 880 shares of $20 par, 6% preferred stock for $19,360.

2.On January 1, 2022, Oriole also issued 880 shares of common stock for $20,240.

3.Oriole reacquired 264 shares of its common stock on July 1, 2022, for $49 per share.

4.On December 31, 2022, Oriole declared the annual cash dividend on the preferred stock and a $1.50 per share dividend on the outstanding common stock, all payable on January 15, 2023.

5.Oriole estimates that uncollectible accounts receivable at year-end are $4,488.

6.The building is being depreciated using the straight-line method over 30 years. The salvage value is $4,400.

7.The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $3,520.

8.The unearned rent was collected on October 1, 2022. It was receipt of 4 months rent in advance (October 1, 2022 through January 31, 2023).

9.The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2022, has not been paid or recorded.