ters 8-10 Question 1 of 2 Cheyenne Corp's unadjusted trial balance at December 1, 2022, is presented below. Credit Debit $20,100 38,600 11,000 0 34,700 3,600 20.900 141,000 59.000 9.900 Cash Accounts Receivable Notes Receivable Interest Receivable Inventory Prepaid Insurance Land Buildings Equipment Patent Allowance for Doubtful Accounts Accumulated Depreciation--Buildings Accumulated Depreciation--Equipment Accounts Payable Salaries and Wages Payable Notes Payable (due April 30, 2023) Income Taxes Payable Interest Payable Notes Payable (due in 2028) Common Stock Retained Earnings Dividends Sales Revenue Interest Revenue Gain on Disposal of Plant Assets Bad Debt Expense $500 47.000 23,600 25,300 0 10,500 0 0 32.100 49,000 92.700 12.000 919.000 0 0 0 Question 1 of 2 0.77 / 2.5 674,000 0 0 0 Cost of Goods Sold Depreciation Expense Income Tax Expense Insurance Expense Interest Expense Other Operating Expenses Amortization Expense Salaries and Wages Expense Total 0 65,900 0 109,000 $1.199,700 $1,199,700 The following transactions occurred during December Dec. 2 Purchased equipment for $14,600, plus sales taxes of $700 (paid in cash), 2 Cheyenne sold for $3,800 equipment which originally cost $4,800. Accumulated depreciation on this equipment at January 1, 2022 was $1.800: 2022 depreciation prior to the sale of equipment was $775. 15 Cheyenne sold for $5.500 on account inventory that cost $3,800 23 Salaries and wages of 37,100 were paid for December Adjustment data 1 2 3. 4, 5. Cheyenne estimates that uncollectible accounts receivable at year-end are 53.700. The note receivable is a 1-year, 8% note dated April 1.2022. No interest has been recorded The balance in prepaid insurance represents payment of a 53,600, 6-month premium on September 1.2022. The building is being depreciated using the straight-line method over 30 years. The salvage value is 533.000 The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost. The equipment purchased on December 2, 2022. is being depreciated using the straight-line method over 5 years, with a salvage value of $1.500. Thanatacacomidin 2022 and balancimithandate 6. i e mal entries for the transactions listed above and adjusting entries. (Credit account titles are automatically indented is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the Ord journal entries in the order presented in the problem.) Account Titles and Explanation Equipment Debit Credit 15,300 Cash 15,300 Depreciation Expense 775 775 Accumulated Depreciation-Equipment (To record depreciation expense on equipment.) Cash 3.800 2.575 4.800 1.575 5.500 Accumulated Depreciation-Equipment Equipment Gain on Disposal of Plant Assets To record sale of equipment.) Accounts Receivable Sales Revenue (To record sales revenue.) Cost of Goods Sold Inventory (To record cost of goods sold Salaries and Wages Expense 5.500 3,800 3,800 7.100