Flounder Corp.s unadjusted trial balance at December 1, 2022, is presented below.

	Debit		Credit
Cash	$27,280
Accounts Receivable	45,632
Notes Receivable	12,400
Interest Receivable	0
Inventory	44,888
Prepaid Insurance	4,464
Land	24,800
Buildings	186,000
Equipment	74,400
Patent	11,160
Allowance for Doubtful Accounts			$620
Accumulated DepreciationBuildings			62,000
Accumulated DepreciationEquipment			29,760
Accounts Payable			33,852
Salaries and Wages Payable			0
Notes Payable (due April 30, 2023)			13,640
Income Taxes Payable			0
Interest Payable			0
Notes Payable (due in 2028)			43,400
Common Stock			62,000
Retained Earnings			78,864
Dividends	14,880
Sales Revenue			1,116,000
Interest Revenue			0
Gain on Disposal of Plant Assets			0
Bad Debt Expense	0
Cost of Goods Sold	781,200
Depreciation Expense	0
Income Tax Expense	0
Insurance Expense	0
Interest Expense	0
Other Operating Expenses	76,632
Amortization Expense	0
Salaries and Wages Expense	136,400
Total	$1,440,136		$1,440,136

The following transactions occurred during December.

Dec. 2		Purchased equipment for $19,840, plus sales taxes of $992 (paid in cash).
2		Flounder sold for $4,340 equipment which originally cost $6,200. Accumulated depreciation on this equipment at January 1, 2022, was $2,232; 2022 depreciation prior to the sale of equipment was $1,023.
15		Flounder sold for $6,200 on account inventory that cost $4,340.
23		Salaries and wages of $8,184 were paid.

Adjustment data:

1.		Flounder estimates that uncollectible accounts receivable at year-end are $4,960.
2.		The note receivable is a one-year, 8% note dated April 1, 2022. No interest has been recorded.
3.		The balance in prepaid insurance represents payment of a $4,464, 6-month premium on September 1, 2022.
4.		The building is being depreciated using the straight-line method over 30 years. The salvage value is $37,200.
5.		The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost.
6.		The equipment purchased on December 2, 2022, is being depreciated using the straight-line method over 5 years, with a salvage value of $2,232.
7.		The patent was acquired on January 1, 2022, and has a useful life of 9 years from that date.
8.		Unpaid salaries at December 31, 2022, total $2,728.
9.		Both the short-term and long-term notes payable are dated January 1, 2022, and carry a 10% interest rate. All interest is payable in the next 12 months.
10		Income tax expense was $18,600. It was unpaid at December 31.

(a)

Prepare journal entries for the transactions listed above and adjusting entries. (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 0 for the amounts. Record journal entries in the order presented in the problem.)