I need help with my Accounting Mini Practice Problem. Thank you.

B&L Landscapes, Inc. Mini Practice Part 2 Bill Graham and Larry Miller incorporated B&L Landscapes, Inc. on July 1, 2017. The business consists of lawn care and sprinkler system installations. In addition, they also sell two types of fertilizer. Bill and Larry are concerned about ensuring a steady supply of high-quality PVC pipe for the sprinkler installations jobs they and have come up with a plan to issue bonds to several of their family members. These funds will enable them to acquire a significant portion of the stock of a local PVC manufacturer. At the end of July 2017, the company has the following adjusted trial balance:

B&L Landscapes, Inc. Adjusted Trial Balance July 31, 2017

DEBIT CREDIT

Cash $ 65,000

Accounts Receivable 9,800

Allowance for Doubtful Accounts 500

Prepaid Insurance 1,700

Inventory 59,000

Land 8,000

Building 25,000

Accumulated Depreciation - Building 1,350

Equipment 42,500

Accumulated Depreciation - Equipment 7,500

Accounts Payable 22,950

Notes Payable 45,000

Preferred Stock 8,000

Common Stock 33,000

Retained Earnings 92,700

Total $211,000 $211,000

Not included in the adjusted trial balance are the following transactions that occur on July 31, 2017. 1. B&L Landscapes, Inc. issued $55,000 worth of 5%, 10 year bonds at face value. 2. B&L Landscapes, Inc. purchased 30% of the outstanding common stock of Crestline Pipe, Inc. for $75,000

Instructions: 1. Using the chart of accounts provided below, and the Excel template provided with this assignment, prepare journal entries, in good form, to record the issuance of bonds and the investment transactions. Start with Page 3 of the General Journal. Explanations are optional. Round all journal entries to two decimal places. 2. Post the entries to the general ledger provided. You only need to create ledgers for the accounts in Part 1. Record any existing account balances as beginning balances using the values from the adjusted trial balance. 3. Prepare a classified balance sheet for B&L Landscapes, Inc. for July 31, 2017. 4. On December 15, 2017, Crestline Pipe, Inc. pays a $5,000 dividend. Prepare the journal entry, in good form, to record B&L's receipt of their share of the dividend. Record this on Page 4 of the General Journal. Explanations are optional. 5. Crestline Pipe, Inc. reports total net income of $21,500 for the year ending December 31, 2017. 6. Record the necessary adjusting journal entries for B&L Landscapes, Inc. investments and bonds on Page 5 of the General Journal. Explanations are optional.

B&L Landscapes, Incorporated Chart of Accounts

Classification Account Number Account Name ASSETS 101 Cash 110 Accounts Receivable 112 Allowance for Doubtful Accounts 115 Notes Receivable 116 Interest Receivable 120 Supplies 130 Prepaid Insurance 140 Inventory 145 Stock Investments 150 Land 152 Building 153 Equipment 155 Accumulated Depreciation - Building 156 Accumulated Depreciation - Equipment LIABILITIES 201 Accounts Payable 220 Notes Payable 225 Interest Payable 250 Bonds Payable 280 Dividend's Payable STOCKHOLDERS' EQUITY 301 Common Stock 310 Preferred Stock 330 Cash Dividends 350 Retained Earnings REVENUES 401 Lawn Service Revenue 410 Sales Revenue 415 Sales Returns and Allowances 420 Interest Income 450 Revenue from Stock Investments

COST OF GOODS SOLD 501 Purchases 505 Purchase Returns and Allowances EXPENSES 620 Supplies Expense 630 Fuel Expense 640 Repair and Maintenance Expense 650 Advertising Expense 65 Organization Expense 660 Insurance Expense 670 Depreciation Expense 680 Interest Expense 690 Bad Debt Expense