Journalize entries related to bank reconciliation and all adjusting entries.

Blue Spruce Corp. prepares quarterly financial statements. The post-closing trial balance at December 31, 2021, is presented below. BLUE SPRUCE CORP. Post-Closing Trial Balance December 31, 2021 Debit Credit Cash $22,700 Accounts Receivable 22,800 Allowance for Doubtful Accounts $1,500 Equipment 15,000 Accumulated Depreciation-Equipment 10,000 Buildings 109,000 Accumulated Depreciation-Buildings 10,000 Land 20,000 Accounts Payable 12,320 Common Stock 83,000 Retained Earnings 72,680 $189,500 $189,500 During the first quarter of 2022, the following transactions occurred: 1. On February 1, Blue collected fees of $8,400 in advance. The company will perform $700 of services each month from February 1, 2022, to January 31, 2018. 2. On February 1, Blue purchased computer equipment for $8,250 plus sales taxes of $750. $2,750 cash was paid with the rest on account. Check #455 was used. 3. On March 1, Blue acquired a patent with a 10-year life for $9,000 cash. Check #456 was used. 4. On March 28, Blue recorded the quarter's sales in a single entry. During this period, Blue had total sales of $170,000 (not including the sales referred to in item 1 above). All of the sales were on account. 5. On March 29, Blue collected $163,000 from customers on account. 6. On March 29, Blue paid $16,320 on accounts payable. Check #457 was used. 7. On March 29, Blue paid other operating expenses of $95,500. Check #458 was used. 8. On March 31, Blue wrote off a receivable of $200 for a customer who declared bankruptcy. 9. On March 31, Blue sold for $1,900 equipment that originally cost $13,000. It had an estimated life of 5 years and salvage of $1,000. Accumulated depreciation as of December 31, 2021, was $9,600 using the straight line method. (Hint: Record depreciation on the equipment sold, then record the sale.) Bank reconciliation data and adjustment data: 1. The company reconciles its bank statement every quarter. Information from the December 31, 2021, bank reconciliation is: Deposit in transit: 12/30/2021 $5,500 Outstanding checks #440 3,300 #452 400 #453 900 #454 5,870 The bank statement received for the quarter ended March 31, 2022, is as follows: Beginning balance per bank $27,670 Deposits: 1/2/2022, $5,500; 2/2/2022, $8,400; 3/30/2022, $163,000 176,900 Checks: #452, $400; #453, $900; #457. $16,320;#458, $95,500 (113,120) Debit memo: Bank service charge (record as operating expense) (100) Ending bank balance $91,350 2. Record revenue earned from item 1 above. 3. $22,800 of accounts receivable at March 31, 2022, are not past due yet. The bad debt percentage for these is 4%. The balance of accounts receivable are past due. The bad debt percentage for these is 26.00%. Record bad debt expense. (Hint: You will need to compute the balance in accounts receivable before calculating this.) 4. Depreciation is recorded on the equipment still owned at March 31, 2022. The new equipment purchased in February is being depreciated on a straight-line basis over 5 years and salvage value was estimated at $1,200. The old equipment still owned is being depreciated over a 10-year life using straight-line with no salvage value. 5. Depreciation is recorded on the building on a straight-line basis based on a 30-year life and a salvage value of $13,000. 6. Amortization is recorded on the patent. 7. The income tax rate is 30%. This amount will be paid when the tax return is due in April. (Hint: Prepare the income statement up to income before taxes and multiply by 30% to compute the amount.) Enter the December 31, 2021, balances in ledger accounts using T-accounts. (Post entries in the order displayed in the problem statement.) Cash Bal. 22700 Accounts Receivable Bal. 22800 Allowance For Doubtful Accounts Bal. 1500 Equipment Bal. 15000 Accumulated Depreciation Equipment Bal. 10000 Land Bal. 20000 Buildings Bal. 109000 Accumulated Depreciation-Buildings Bal. 10000 Accounts Payable Bal. 12320 Common Stock Bal. 83000 Retained Earnings Bal. 72680 Post the journal entries to the ledger accounts for items 1-9. (Post entries in the order of journal entries presented above.) Cash Bal. 22,700 V Accounts Receivable Bal. 22,800 Allowance for Doubtful Accounts Bal. 1,500 Equipment Bal. 15,000 Accumulated Depreciation Equipment Bal. 10,000 Land Bal. 20.000 Buildings Bal. 109,000 Accumulated Depreciation-Buildings Bal. 10.000 Patents Accounts Payable Bal. 12,320 Unearned Service Revenue Common Stock Bal. 83,000 Retained Earnings Bal. 72,680 Service Revenue Other Operating Expenses Depreciation Expense Loss on Disposal of Plant Assets No. Account Titles and Explanation Debit Credit 1. Cash 8400 Unearned Service Revenue 8400 2. Equipment 9000 Cash 2750 Accounts Payable 6250 3. Patents 9000 Cash 9000 4. Accounts Receivable 170000 Service Revenue 170000 5. Cash 163000 Accounts Receivable 163000 6. 6. Accounts Payable 16320 Cash 16320 7. Other Operating Expenses 95500 Cash 95500 5. Cash 163000 Accounts Receivable 163000 6. Accounts Payable 16320 Cash 16320 7. Other Operating Expenses 95500 Cash 95500 8. Allowance for Doubtful Accounts 200 Accounts Receivable DOHODA LA HISTORIA 200 9. Depreciation Expense 600 Accumulated Depreciation Equipment 600 (To record depreciation expense) Cash 1900 Accumulated Depreciation Equipment 10200 Loss on Disposal of Plant Assets 900 Equipment 13000 (To record sale of equipment) Post the journal entries to the ledger accounts for items 1-9. (Post entries in the order of journal entries presented above.) Cash Bal. 22,700 Feb. 1 2750 Feb. 1 8400 Mar. 1 9000 Mar. 29 163000 Mar. 29 16320 Mar. 31 1900 Mar. 29 95500 Accounts Receivable Bal. 22,800 Mar. 29 163000 Mar. 28 170000 Mar. 31 200 Allowance for Doubtful Accounts Mar. 31 200 Bal. 1,500 Equipment Bal. 15,000 Mar. 31 13000 Feb. 1 9000 Accumulated Depreciation Equipment Mar. 31 10200 Bal. 10,000 Mar. 31 600 Land Bal. 20,000 Buildings Bal. 109,000 Accumulated Depreciation-Buildings Bal. 10,000 Patents Mar. 1 9000 Accounts Payable Mar. 29 16320 Bal. 12,320 Feb. 1 6250 Unearned Service Revenue Feb. 1 8400 Common Stock Bal. 83,000 Retained Earnings Bal. 72,680 Service Revenue Mar. 28 170000 Other Operating Expenses Mar. 29 95500 Depreciation Expense Mar. 31 600 Loss on Disposal of Plant Assets Mar. 31 900 Prepare an unadjusted trial balance at March 31. Blue Spruce Corp. Trial Balance 3/31/22 Debit Credit Cash $ 72430 $ Accounts Receivable 29600 Allowance for Doubtful Accounts 1300 Equipment 11000 Accumulated Depreciation-Equipment 400 Land 20000 Buildings 109000 Accumulated Depreciation-Buildings 10000 Patents 9000 Accounts Payable 2250 Unearned Service Revenue 8400 Common Stock 83000 Retained Earnings 72680 Service Revenue 170000 Other Operating Expenses 95500 Depreciation Expense 600 Loss on Disposal of Plant Assets 900 Totals $ 348030 $ 348030 Journalize entries related to bank reconciliation and all adjusting entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to decimal places, e.g. 5,275.) No. Date Account Titles and Explanation Debit Credit 1. 3/31/2022 2. 3/31/2022 3. 3/31/2022 4. 3/31/2022 5. 3/31/2022 6. 3/31/2022 7. 3/31/2022