Prepare journal entries for the transactions listed above.

$25,600 87,000 117.800 Cash Accounts receivable Allowance for doubtful accounts Supplies Land Buildings Accumulated depreciation-buildings Balance Sheet December 31, 2021 $22.600 Accounts payable 41.000 Common stock ($10 par) (1,600) Retained earnings 4.100 36,000 151,800 (23.500) $230,400 $230,400 1. During 2022, the following transactions occurred. On January 1, 2022. Cullumber issued 1.200 shares of 540 par, 7% preferred stock for $49,200. On January 1, 2022. Cullumber also issued 900 shares of the $10 par value common stock for $21.800. 3. Cullumber performed services for $348,000 on account. On April 1.2022. Cullumber collected fees of $34.000 in advance for services to be performed from April 1, 2022. to March 31, 2023 5. Cullumber collected $295,400 from customers on account 6. Cullumber bought 532,900 of supplies on account. 7. Cullumber paid $34.900 on accounts payable. 8. Cullumber reacquired 500 shares of its common stock on June 1, 2022 for $28 per share. 9. Paid other operating expenses of $179.300 10 On December 31, 2022, Cullumber declared the annual preferred stock dividend and a $1.10 per share dividend on the outstanding common stock, all payable on January 15, 2023 An account receivable of $1.500 which originated in 2021 is written off as uncollectible 11 Adjustment data: 2 3 A count of supplies indicates that $5,800 of supplies remain unused at year-end, Recorded revenue from item 4 above The allowance for doubtful accounts should have a balance of $3,400 at year end. Depreciation is recorded on the building on a straight-line basis based on a 30-year life and a salvage value of $10.800. The income tax rate is 30%. (Hint: Prepare the income statement up to income before income taxes and multiply by 30% to compute the amount.) 5