-prepare a journal entry for the transactions listed above

-Prepare an Updated December 31, 20XX. trial

balance

Credit $ 1,077 63,306 16,048 35,278 54,300 O O O Debit Cash $ 115,290 Accounts Receivable 28,789 Inventory 25,540 Debt Investments 0 Land 55,674 Buildings 215,850 Equipment 75,120 Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accounts Payable Interest Payable Unearned Rent Revenue Dividends Payable Income Tax Payable Bonds Payable Discount on Bonds Payable 0 Common Stock ($2 par) Paid in Capital in Excess of Par-Common Stock Preferred Stock ($60 par) Paid in Capital in Excess of Par-Preferred Stock Retained Earnings Treasury Stock Cash Dividends 0 Sales Revenue Rent Revenue Gain on Sale of Land Bad Debt Expense Interest Expense 0 Cost of Goods Sold 478,592 Depreciation Expense 0 Other Operating Expenses 53,274 Salaries and Wages Expense 79,632 Income Tax Expense 0 Total $ 1,127,761 29,200 44,580 0 0 107,904 O 776,068 0 0 OO $ 1,127,761 Unrecorded transactions: Round all calculations if necessary to -o-decimals (to the nearest dollar, do not show cents). 1. On January 1, 20XX, Best Value issued 520 shares of $60 par, 5% preferred stock for $75,810. 2. On January 1, 20XX, Best Value also issued 5,800 shares of common stock for $42,050. 3. On January 1, 20XX, BestValue issued $325,000, 5.5%, 9 year bonds when the market rate was 6%. Interest is to be paid annually on each January 1, beginning 1 year from date of issue. 4. BestValue reaquired 3,600 shares of its common stock on January 12, 20xx for $8.00 per share. 5. On December 31, 20XX, Best Value declared the annual preferred dividend plus a $2.75 per share dividend on the outstanding common stock, all payable in cash on January 31 of next year. 6. On December 31, 20XX, BestValue estimates that the total amount of accounts receivable that is uncollectible at year end is $1,740. 7. The building is being depreciated using the straight line method over 25 years. The salvage value is $100,000. 8. The equipment is being depreciated using the straight line method over 5 years. The salvage value is $15,000. 9. Sold the Land for $65,000 cash. 10. Bought Debt Investments worth $170,000 for cash. 11. The unearned rent was collected on December 1, 20XX. It was receipt of 3 months' rent in advance (December 1, 20xx through February 28 of next year). 12. The first cash interest payment on the 5.5% bonds is due January 1 of next year. The annual interest on the bonds for 20xx has not yet been recorded. Use the effective interest method. 13. The Best Value Corporation must make an adjusting entry to accrue income tax expense on Income Before Income Tax at a rate of 37%. The taxes will not be paid until March of next year