Please do joirnal entries for the following T accounts

create readjusted joirnal entries

Comparative Balance Sheets December 31 \begin{tabular}{|c|c|c|c|} \hline & 2022 & 2021 & Change \\ \hline \multicolumn{4}{|l|}{ Assets } \\ \hline Cash & 94,800 & 24,000 & \\ \hline Accounts Receivable, net & 41,000 & 51,000 & \\ \hline nventory & 85,800 & 95,800 & \\ \hline repaid expenses & 5,400 & 4,200 & \\ \hline Total Current Assets & 227,000 & 175,000 & \\ \hline urniture & 109,000 & 119,000 & \\ \hline Accum. Depreciation-Furniture & (17,000) & (9,000) & \\ \hline Total Assets & 319,000 & 285,000 & \\ \hline \multicolumn{4}{|l|}{ iabilities } \\ \hline Accounts Payable & 15,000 & 21,000 & \\ \hline Nages Payable & 9,000 & 5,000 & \\ \hline ncome Taxes Payable & 1,400 & 2,600 & \\ \hline Total Current Liabilities & 25,400 & 28,600 & \\ \hline ong-term notes payable & 29,000 & 69,000 & \\ \hline Total Liabilities & 54,400 & 97,600 & \\ \hline \multicolumn{4}{|l|}{ quity } \\ \hline Common stock, \$5 par & 229,000 & 179,000 & \\ \hline Retained Earnings & 35,600 & 8,400 & \\ \hline Total Equity & 264,600 & 187,400 & \\ \hline Jotal Liabilities and Equity & 319,000 & 285,000 & \\ \hline \end{tabular} 1. Furniture with an original cost of $55,000 was sold at its book value in 2022 . HINT: You must determine the amount of cash received. 2. New furniture was acquired in 2022 for $45,000 cash, on which no depreciation is necessary because it is acquired at year-end. 3. All common stock was issued at par value for cash. 4. Cash dividends were declared and paid in 2022. 5. No additional notes payable were issued in 2022. The reduction to long-term notes payable was from cash payments to reduce the loan balance. Reconstructed Journal Entries: \begin{tabular}{l|l|l|l} \hline Date & Account & Debit & Credit \end{tabular}