Please explain how to prepare T-accounts, P&L, Statement of Owner's Equity, Balance Sheet and Cash Flow Statement for this question.

152 Accounts Receivable Home .. Problem 1 7 2) Charleigh Co., purveyor of fine , fine things , had the following balances at December 31 , 2018 : 44, 000 Cash 30, 000 Accounts Receivable 1, 000 Allowance for doubtful accts 50, 000 ( 1 thing ) Inventory 190, 000 Equipment 60, 000 Accumulated Depreciation- Equipment 50, 000 Land 20. 000 Patent 42 , 000 Accounts Payable 4, 000 Salary Payable 2, 000 Rent Payable 2. 000 Taxes Payable* 30, 000 Long - Term Debt 90 , 000 Common Stock ( $1 per share ) 133 , 000 Retained Earnings During 2019 the following transactions occurred :" Jan 1 , received all beg A/R and paid all Beg AVP Mar 1 , bought 2 things for $60 , 000 each , ( Paid 25% down and rest payable in one year )* April 15, paid year 2018 taxes payable* May 1 , sold one thing for $ 120 , 000 ( received 3/4 down and the rest in one year ) May 15 , bought 1 thing for $80 , 000 ( Paid 25% down and rest payable in one year ) July 1 , company wrote off $600 in bad debts* July 1 , sold one thing for $ 160 , 000 ( received 75% down and the rest will be paid in one year )\\ Aug 1 , purchased piece of equipment for $10 , 000 cash . Sept 1 , Sold 40 , 000 shares of common stock for $40 , 000 Oct 1 Purchased a piece of land for $50 , 000* Dec 1 ,\\ declared and paid $.20 per share dividend . Dec 31 , paid an annual payment on long term debt - $28 , 000 . Of that amount , $8 , 000 was for interest and $20 ,000 was for principal ." During the year the company paid 15 months' rent of $15 , 000 . Also during the year the company paid salaries of $12 , 000 in cash , and at the end of the year they owed $3 , 000 for salaries . Depreciation for the year is $10 , 000 . The long-term debt is payable in $20 , 000 principal payments plus interest of 10% each December 31 . The tax rate is 30% and during the year the company paid 50% of 2019 taxes . The company uses the FIFO inventory system . The company estimates that 3% of it's receivables will ultimately be uncollectible . Journalize the above transactions and post them to T-Accounts . Prepare any necessary adjustments . Prepare a P&L , Statement of Owners' Equity , Balance Sheet and Cash Flow Statement for the year 2019