Sandhill Corporation's trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described below. Credit Accounts Receivable Inventory $26.500 56,000 25,000 39,000 Buildings Equipment Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation-oviment Accounts Payable 410 31.500 36200 29.400 50,000 30.000 6,000 Stock 80.190 Dividends Payable Uncanned Rent Revenue Bonds Payable (104) Common Stock (10) Paid in Capital incess of Per-Common Stock Preferred Stock (520 par) Paid-in Capital in Excess of Par-Preferred Retained Earnings Treasury Stock Cash Dividends Sales Revenue Rent Revenue Bad Debt Expense Interest Expense Cost of Goods Sold Depreciation Expense Other Operating Expenses Salaries and Wages Expense Total 568,000 400,000 $806,500 $80,000 Unrecorded transactions and adjustments: 1. On January 1, 2020, Sandhill issued 1,000 shares of $20 par, 6% preferred stock for $22,000. 2. On January 1, 2020, Sandhill also issued 1,200 shares of common stock for $27,600. Sandhill reacquired 320 shares of its common stock on July 1, 2020, for $46 per share. On December 31, 2020, Sandhill 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. Sandhill estimates that uncollectible accounts receivable at year-end is $5,600. 6. The building is being depreciated using the straight-line method over 30 years. The salvage value is $4,100. The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $3,300. 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.) Liabilities and Stockholders' Equity