Prepare journal entries for the transactions and adjustment listed below

Need an updated December 31, 2020, trial balance, reflecting the journal entries in part(a).

Need multiple-step income statement for the year ending December 31, 2020.

Need retained earnings statement for the year ending December 31, 2020.

Needclassified balance sheet as of December 31, 2020

Carla Vista Corporation's trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described below.

Debit

Credit

Cash

$27,400

Accounts Receivable

59,000

Inventory

22,600

Land

62,900

Buildings

96,900

Equipment

42,000

Allowance for Doubtful Accounts

$430

Accumulated DepreciationBuildings

30,500

Accumulated DepreciationEquipment

15,000

Accounts Payable

19,300

Interest Payable

-0-

Dividends Payable

-0-

Unearned Rent Revenue

8,800

Bonds Payable (10%)

54,000

Common Stock ($10 par)

34,000

Paid-in Capital in Excess of ParCommon Stock

6,800

Preferred Stock ($20 par)

-0-

Paid-in Capital in Excess of ParPreferred Stock

-0-

Retained Earnings

72,970

Treasury Stock

-0-

Cash Dividends

-0-

Sales Revenue

576,000

Rent Revenue

-0-

Bad Debt Expense

-0-

Interest Expense

-0-

Cost of Goods Sold

404,000

Depreciation Expense

-0-

Other Operating Expenses

39,900

Salaries and Wages Expense

63,100

Total$817,800

$817,800

Unrecorded transactions and adjustments:

1.On January 1, 2020, Carla Vista issued 1,000 shares of $20 par, 6% preferred stock for $21,000.

2.On January 1, 2020, Carla Vista also issued 1,100 shares of common stock for $27,500.

3.Carla Vista reacquired 300 shares of its common stock on July 1, 2020, for $46 per share.

4.On December 31, 2020, Carla Vista declared the annual cash dividend on the preferred stock and a $1.20 per share dividend on the outstanding common stock, all payable on January 15, 2021.

5.Carla Vista estimates that uncollectible accounts receivable at year-end is $5,900.

6.The building is being depreciated using the straight-line method over 30 years. The salvage value is $5,400.

7.The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $4,200.

8.The unearned rent was collected on October 1, 2020. It was receipt of 4 months' rent in advance (October 1, 2020 through January 31, 2021).

9.The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2020, has not been paid or recorded.

(Ignore income taxes.)

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Prepare journal entries for the transactions and adjustment listed above.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)