Please Do the adjusting journal entries.

Part I: Adjusting Journal Entries Record the following adjusting entries in general journal form as of December 31, 2021: 1. Supplies on hand at the end of the year: $5,016. 2. Equipment shown on the 12/1 TB was purchased on 1/1/17, has a 7-year life, no salvage value and company uses double-declining balance method for its depreciation. 3. Don't forget to depreciate the new equipment, which is also depreciated using the DDB method! 4. Included in the truck balance is a fully depreciated truck for $6,500 and a new truck valued at $50,000 that was purchased on 1/1/17. The new truck has an 8-year life, no salvage value and the company uses the sum-of-the-years digits for its depreciation method on this asset. 5. The building is depreciated under the straight-line method over 39 years and was placed in service on July 1, 2017. 6. The machinery was purchased on December 1, 2020, has a 5-year useful life, salvage value of $4,000, and is being depreciated under the straight-line method. 7. The patent was purchased on 1/1/2013 for $100,000 and its useful life is 20 years. 8. Included in the Prepaid Insurance Account balance at 12/1 is a $75,000, 12-month insurance policy that was purchased on August 1, 2021. 9. Also included in the 12/1 trial balance (and the 12/31 TB) was an insurance policy that expired on 12/31/21. 10. Declared dividends of $350,000 on December 31. 11. The fair market value of the short-term investments (assume Equity securities) is $12,500. 12. The total fair value of the Available for Sale Securities (assume Debt securities) is $489,000. 13.2% of Accounts Receivable is estimated to be uncollectible. Company uses the allowance method for estimating its uncollectible accounts. 14. Accrued salaries of $145,000 and accrued payroll taxes of 6.2%. 15. Had issued $2,500,000 of 4%, 10-year bond, dated 1/1/18 for $2,305,133 when the market rate was 5%. Interest is paid on June 30 and January 1 using the effective interest rate method. The June payment is included in the Dec. 1 TB. Extra credit of 5 points if a complete amortization table (all 10 years) is included. Partial extra credit may be awarded. 16. One month has passed since the issuance of restricted stock. 17. Interest on 30 days of short-term note payable, dated 12/2/21 should be accrued. (Assume 360 days in a year for calculation) 18. Income tax rate is 21%. Hint: Check out the check figures! CR DR 2,188,098.00 2,240,370.00 30,000.00 14,000.00 Acct 100 101 102 103 104 105 106 107 110 111 1,645,000.00 125,000.00 12,005.00 100,000.00 15,000.00 1,135,000.00 3,000,000.00 120 269,231.00 850,000.00 14,100.00 250,000.00 177,923.00 December 1, 2021 Description Cash Accounts Receivable Allowance for Doubtful Accounts Short-term Investments Fair Value Adjustment-ST Inventory Prepaid Insurance Supplies Available-for-sale Investments Fair Value Adjustment-AFS Land Building Accumulated Depreciation-Building Machinery Accumulated Depreciation Machinery Equipment Accumulated Depreciation Equipment Truck Accumulated Depreciation Truck Right-of-use Asset Patents Accounts Payable Salaries Payable Utilities Payable Payroll Taxes Payable Interest Payable Dividends Payable Note Payable-short term Income Tax Payable Lease Liability Note Payable-long term Bond Payable Discount on Bond Payable Common Stock, $1 par, $1M shares authorized; 235,000 shares issued and outstanding 56,500.00 42,611.00 121 122 123 124 125 126 127 128 130 175 201 202 203 204 205 206 207 208 220 221 225 226 60,000.00 1,251,754.00 1,577,000.00 9,000.00 25,000.00 50,000.00 26,000.00 500,000.00 2,500,000.00 137,292.00 301 235,000.00 235,000.00 3,488,193.00 1,045,590.00 15,000.00 5,961,510.00 3,155,000.00 1,900,000.00 301 302 303 304 305 306 307 401 500 600 601 602 605 606 607 608 609 610 611 612 614 615 617 620 Totals outstanding APIC Common Stock Retained Earnings Unrealized Gains (Losses) Equity Unearned Compensation Treasury Stock APIC Treasury Stock Sales Cost of Goods Sold Compensation Expense Salaries Expense Bad Dept Expense Payroll Tax Expense Advertisting Expense Insurance Expense Supplies Expense Depreciation Expense Amortization Expense Utilities Expense Miscellaneous Expenses Interest Expense Income Tax Expense Realized Gains (Losses) Unrealized Gains (Losses) Income 80,000.00 125,000.00 40,000.00 16,000.00 9,000.00 9,300.00 58,847.00 3,500.00 17,221,412.00 17,221,412.00 Acct Description CR DR 776,000 Date 1-Dec account recieva able sales cost of goods sold inventory 776,000 375,000 375,000 400,000 2-Dec equipment cash notes payables 250,000 150,000 3-Decl cash 611,000 accounts recievable 611,000 234,000 4-Dec Ttreasury stock cash 234,000 160,000 5-Dec Unearned compensation common stock apic common stock 10,000 150,000 289,000 6-Dec accounts payable cash 289,000 575,260 7-Dec inventory accounts payable 575,260 776,000 8-Dec cash accounts recievable 776,000 383,800 9-Dec available for sale investment cash 383,800 10-Dec notes payable intrest expense cash 13,950 1,000 14,950 11-Dec accounts payable 712,000 712,000 875,000 12-Dec cash common stock apic common stock 50,000 825,000 850,000 14-Dec cash accounts recievable 850,000 575,260 16-Dec accounts payable cash 575,260 107,844 17-Dec inventory accounts payable 107,844 453,000 18-Dec cash accounts recievable 453,000 850,000 850,000 19-Dec accounts receivable sales cost of goods sold inventory 595,000 595,000 635,000 635,000 20-Dec accounts receivable sales cosst of goods sold inventory 425,000 425,000 187,500 21-Dec cash treasury stock apic treassury stock 162,500 25,000