Need help with journal entry and trial balance

TRANSACTIONS
Jan 1	Issued 50,000 shares of $3 par value common stock at a price of $18 per share.
Jan 1	Issued 10,000 shares of $10 par value, 6% preferred stock at a price of $50 per share.
Jan 1	Traded old equipment plus $5,000 cash for new, updated equipment. It was determined that the trade had commercial substance. The old equipment had an original cost of $40,000 and accumulated depreciation of $24,000 and the new equipment had a fair value of $18,000. The new equipment has an expected life of 6 years and no salvage value.
Jan 1	Paid $8,000 cash successfully defending their existing patent. Due to the successful defense, life of the patent is expected to be 10 years from the date of defense.
April 1	Declared a 10% common stock dividend. The dividend is payable on May 1st to stockholders of record on April 25th. The market price of the common stock on the date of declaration was $20 per share.
May 1	Issued the common stock to settle the dividend declared on April 1st.
July 1	Issued $400,000 par value, 6%, 10 year bonds payable. The bonds pay interest semi-annually on June 30th and December 31st. At the time of issuance, the market rate of interest for bonds of similar risk was 4%.
July 1	Purchased land and a building for $500,000 by paying $50,000 down and taking out a note for $450,000. The fair value of the land was estimated at $250,000 and the fair value of the building was estimated at $280,000. The expected life of the building is 20 years, and expected salvage value is $40,000.
July 1	Paid $5,000 cash for a one year insurance policy on the building.
July 1	Purchased 5,000 shares of the companys own common stock, for treasury stock purposes, at $20 per share. The company uses the COST method to account for treasury stock purchases.
July 1	Paid the short term note (see beginning balance sheet) plus 6 months of interest (stated annual rate of 5%)
Sept 15	A customer who owed the company $1,500 declared bankruptcy. The company wrote the customers account off.
Oct 1	Purchased 5,000 shares of XYZ company for $20 per share. The securities are classified as Trading securities. No dividends were declared or paid by XYZ during the year. The XYZ stock was trading at $23 per share on December 31st.
Dec 1	Reissued 2,000 shares of the treasury stock purchased on July 1st for $25 per share.
Dec 31	Declared a $.25 dividend per common share and the required dividend on the preferred shares. The dividend will be paid on February 25th to stockholders of record on February 20th
Dec 31	Paid interest on the bonds issued on July 1st. (Be sure to amortize the premium as well.
Dec 31	Paid $33,750 on the note issued on July 1st. Of the amount paid, $11,250 was interest and $22,500 reduced the principal.
Summary	Inventory purchases during the year were $1,300,000 and all were on account.
Summary	Sales for the year were $2,350,000, with $400,000 for cash and the remainder on account. The cost of the goods sold was $1,010,000. NOTE: Argyle uses the perpetual method of accounting for inventory. Therefore, the inventory account is debited whenever inventory is purchase and credited whenever inventory is sold.
Summary	Cash collections on accounts receivable for the year were $1,200,000.
Summary	Cash payments for inventory purchased on account were $825,000.
Summary	Total (gross) payroll for the year was $125,000. Assume a federal income tax rate of 25%, a FICA rate of 7.65%, and a federal unemployment tax rate (net of state tax credit) is .8% and the state unemployment tax rate is 3%. Assume all wages owed to employees were paid in cash, NONE of the payroll taxes have been paid yet.
Summary	Customers returned merchandise, with a sales price of $73,000 and a cost of $31,390, for full credit. As there was no damage to the returned merchandise, the goods were returned to inventory.
Summary	Purchased office supplies for $9,000 cash. As of the end of the year, the company did a count and had $8,000 of office supplies remaining in the store room.
Summary	Paid cash for $43,000 utilities for the years utilities.

SUPPLEMENTARY INFORMATION

Much of the information needed to prepare adjusting entries is included in the transaction information (for example when trading old equipment for new, the life and salvage value of the new equipment is provided in the transaction information). However, additional information is necessary for some adjusting entries. This is provided below:

1. The company uses the straight line method to depreciate (and/or amortize) all long term assets.

2. The company uses the percentage of receivables method to estimate bad debt expense. The estimated bad debts are 2% of ending accounts receivable.

3. The company took a physical inventory of office supplies at the end of the year, and determined $6,000 remained.

4. The remaining old equipment (original equipment on the balance sheet that was not traded-in on January 1st) has a remaining life of 10 years and $0 salvage value.

5. Assume, for simplicity, there are no differences between financial and taxable income. Assume a 35% income tax rate and taxes will be paid sometime in 2014 (after computing income taxes and income taxes payable, dont forget to post the amounts to the general ledger before closing revenue and expense accounts).

Check Figures

Unadjusted Trial Balance, balances at $7,178,539

Balance Sheet balances at $5,563,819

Income Before Tax $1,025,780

Net Income $666,757

Cash Flow from Operations $607,438