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

	Debit		Credit
Cash	$27,550
Accounts Receivable	36,770
Notes Receivable	9,000
Interest Receivable	0
Inventory	36,200
Prepaid Insurance	3,660
Land	21,100
Buildings	135,000
Equipment	61,600
Patent	10,170
Allowance for Doubtful Accounts			$510
Accumulated DepreciationBuildings			45,000
Accumulated DepreciationEquipment			24,640
Accounts Payable			28,400
Salaries and Wages Payable			0
Notes Payable (due April 30, 2015)			12,400
Interest Payable			0
Notes Payable (due in 2020)			35,520
Common Stock			58,800
Retained Earnings			18,820
Dividends	12,100
Sales Revenue			929,400
Interest Revenue			0
Gain on Disposal of Plant Assets			0
Bad Debt Expense	0
Cost of Goods Sold	632,600
Depreciation Expense	0
Insurance Expense	0
Interest Expense	0
Other Operating Expenses	61,440
Amortization Expense	0
Salaries and Wages Expense	106,300
Total	$1,153,490		$1,153,490

The following transactions occurred during December.

Dec. 2		Kenseth purchased equipment for $16,800, plus sales taxes of $600 (all paid in cash).
2		Kenseth sold for $3,520 equipment which originally cost $5,000. Accumulated depreciation on this equipment at January 1, 2014, was $1,910; 2014 depreciation prior to the sale of equipment was $460.
15		Kenseth sold for $5,490 on account inventory that cost $3,340.
23		Salaries and wages of $6,470 were paid.

Adjustment data:

1.		Kenseth estimates that uncollectible accounts receivable at year-end are $3,850.
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 $3,660, 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 $31,500.
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 $2,280.
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 $2,050.
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 $12,430. It was unpaid at December 31. Prepare journal entries for the transactions listed above and adjusting entries.