Kenseth Corporations unadjusted trial balance at December 1, 2014, is presented below.

	Debit		Credit
Cash	$25,160
Accounts Receivable	36,650
Notes Receivable	8,600
Interest Receivable	0
Inventory	36,180
Prepaid Insurance	3,870
Land	21,600
Buildings	159,000
Equipment	61,700
Patent	10,800
Allowance for Doubtful Accounts			$510
Accumulated DepreciationBuildings			53,000
Accumulated DepreciationEquipment			24,680
Accounts Payable			27,200
Salaries and Wages Payable			0
Notes Payable (due April 30, 2015)			12,500
Interest Payable			0
Notes Payable (due in 2020)			35,840
Common Stock			57,600
Retained Earnings			22,220
Dividends	13,200
Sales Revenue			943,700
Interest Revenue			0
Gain on Disposal of Plant Assets			0
Bad Debt Expense	0
Cost of Goods Sold	636,100
Depreciation Expense	0
Insurance Expense	0
Interest Expense	0
Other Operating Expenses	61,290
Amortization Expense	0
Salaries and Wages Expense	103,100
Total	$1,177,250		$1,177,250

The following transactions occurred during December.

Dec. 2		Kenseth purchased equipment for $15,600, plus sales taxes of $1,200 (all paid in cash).
2		Kenseth sold for $3,590 equipment which originally cost $5,000. Accumulated depreciation on this equipment at January 1, 2014, was $1,930; 2014 depreciation prior to the sale of equipment was $500.
15		Kenseth sold for $5,140 on account inventory that cost $3,290.
23		Salaries and wages of $6,300 were paid.

Adjustment data:

1.		Kenseth estimates that uncollectible accounts receivable at year-end are $3,810.
2.		The note receivable is a one-year, 8% note dated April 1, 2014. No interest has been recorded.
3.		The balance in prepaid insurance represents payment of a $3,870, 6-month premium on September 1, 2014.
4.		The building is being depreciated using the straight-line method over 30 years. The salvage value is $32,100.
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, 2014, is being depreciated using the straight-line method over 5 years, with a salvage value of $1,980.
7.		The patent was acquired on January 1, 2014, and has a useful life of 9 years from that date.
8.		Unpaid salaries at December 31, 2014, total $2,160.
9.		Both the short-term and long-term notes payable are dated January 1, 2014, and carry a 10% interest rate. All interest is payable in the next 12 months.
10		Income tax expense was $12,350. 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.)

Date		Account Titles and Explanation	Debit	Credit
Dec. 2
Dec. 2
		(To record depreciation expense on equipment.)
		(To record sale of equipment.)
Dec. 15
		(To record sales revenue.)
		(To record cost of goods sold.)
Dec. 23
Dec. 31	1.
	2.
	3.
	4.
	5.
	6.
	7.
	8.
	9.
	10.