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I need help with my accounting Hw

The unadjusted pre-closing 12/31/16 account balances for the Mahoney Company are listed below: During your audit, you discover the following five items that have yet to be recorded: No depreciation on the building has been recorded in 2016. Depreciation on the building is based on Double-Declining Balance. It was purchased on 1/1/15 and has an estimated useful life of 40 years. The estimated salvage value is $670,000. Mahoney exchanged a machine for a similar machine on 12/31/16. The original machine cost $3, 540,000 and had a book value of $1, 990,000. The new machine had a fair value of $1, 520,000; Mahoney also received $220,000 in cash. The exchange did not have commercial substance. Mahoney also exchanged its only other machine for a different machine on 12/31/16. The original machine cost $2, 590,000 and had a book value of $1, 750,000. The fair value was $2, 100,000. Mahoney paid cash of S420.000 as well. The exchange had commercial substance. Mahoney uses the Balance Sheet approach to adjust Accounts Receivable to Net Realizable Value. At 12/31/16, uncollectible receivables are estimated to be 5% of Accounts Receivable. Ending Inventory is to be estimated using the Gross Profit Method. The historic Gross Profit percentage is 20%. Required a) Record journal entries for items notequalto 4 above; show supporting computations, in addition compute ending inventory par notequalto 5 above; show supporting computation. Then make the adjusting/closing journal entry to close Purchases, adjust inventory, and record CGS. Do not show other closing entries; assume they were made properly. b) Draft the 2016 Condensed income Statement and the 12/31/16 Balance Sheet, Use the Cerebra (Textbook illustration 4-3 in Chapter 4) and the Uptown Cabinet (Textbook) illustration 3.41 in Chapter 3) format examples in the text. Assume no taxes. Do not include EPS