Debit Credit Cash $26,900 Accounts Receivable 56,000 Inventory 23,400 Land 63,900 Buildings 92,800 Equipment 36,000 Allowance for Doubtful Accounts $440 Accumulated Depreciation-Buildings 29,000 Accumulated Depreciation-Equipment 15,400 Accounts Payable 19,300 Interest Payable -0- Dividends Payable Unearned Rent Revenue -0- 8,000 Bonds Payable (10%) 52,000 Common Stock ($10 par) 28,000 Paid-in Capital in Excess of Par-Common 5,600 Stock Preferred Stock ($20 par) -0- Paid-in Capital in Excess of Par-Preferred -0- Stock Retained Earnings 27,260 Treasury Stock -0- Cash Dividends Sales Revenue Rent Revenue Bad Debt Expense Interest Expense Cost of Goods Sold Depreciation Expense -0- 624,000 -0- -0- -0- 407,000 Other Operating Expenses Salaries and Wages Expense Total Unrecorded transactions and adjustments: -0- 39,400 63,600 $809,000 $809,000 1. On January 1, 2020, Sunland issued 1,100 shares of $20 par, 6% preferred stock for $23,100. 2. On January 1, 2020, Sunland also issued 1,200 shares of common stock for $27,600. 3. Sunland reacquired 320 shares of its common stock on July 1, 2020, for $46 per share. 4. On December 31, 2020, Sunland declared the annual cash dividend on the preferred stock and a $1.20 per share dividend on the outstanding common stock, all payable on January 15, 2021. 5. Sunland estimates that uncollectible accounts receivable at year-end is $5,600. 6. The building is being depreciated using the straight-line method over 30 years. The salvage value is $5,800. 7. The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $3,600. 8. The unearned rent was collected on October 1, 2020. It was receipt of 4 months' rent in advance (October 1, 2020 through January 31, 2021). 9. The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2020, has not been paid or recorded.