journal entries, t accounts, income statement, p&L, statement of owners equity, and cash flow please!

150 Accounts Receivable Homework Problem 112 Charleigh Co., purveyor of fine, fine things, had the following balances at December 31, 2010: Cash 44,000 Accounts Receivable 60,000 Allowance for doubtful accts 1,000 Inventory 50,000 (1 thing) Equipment 190,000 Accumulated Depreciation-Equipment 60,000 Land 50,000 Patent 20,000 Accounts Payable 42,000 Salary Payable 4,000 Rent Payable 2,000 Taxes Payable 2,000 Long-Term Debt 80,000 Common Stock ($1 per share) 90,000 Retained Earnings 133,000 During 2020 the following transactions occurred: Jan 1. received all beg A/R and paid all Beg A/P Mar 1 bought 2 things for $60,000 each. (Paid 25% down and rest payable in one year) April 15. paid year 2019 taxes payable May 1, sold one thing for $120,000 (received 3/4 down and the rest in one year) May 15, bought 1 thing for $80,000 (Paid 25% down and rest payable in one year) July 1, company wrote off $600 in bad debts July 1, sold one thing for $160,000 (received 75% down and the rest will be paid in one year) Aug 1. purchased piece of equipment for $10,000 cash. Sept 1. Sold 40,000 shares of common stock for $40,000 Oct 1. Purchased a piece of land for $50,000 Dec 1. declared and paid $.20 per share dividend. Dec 31, paid an annual payment on long term debt-$28,000. Of that amount, $8,000 was for interest and $20,000 was for principal During the year the company paid 15 months' rent of $15,000. Also during the year the company paid salaries of $12,000 in cash, and at the end of the year they owed $3,000 for salaries. Depreciation for the year is $10,000. The long-term debt is payable in $20,000 principal payments plus interest of 10% each December 31. The tax rate is 30% and during the year the company paid 50% of 2020 taxes. The company uses the FIFO inventory system. The company estimates that 3% of its receivables will ultimately be uncollectible. Journalize the above transactions and post them to T-Accounts. Prepare any necessary adjustments. Prepare a P&L, Statement of Owners' Equity, Balance Sheet and Cash Flow Statement for the year 2020