The before-tax income for Blossom Corp. for 2022 was $114,500; for 2023, it was $79,800. however, the accountant noted that the following errors had been made:

Here is the schedule showing the calculation of corrected income tax for 2022 and 2023:

Required: Prepare the following journal entries that the company's accountant would prepare in 2023, assuming the errors are discovered while the 2023 books are still open. Ignore income tax effects. 1. to record correction to sales revenue

2. to record the correction of the beginning inventory

3. to record the 2022 interest and to record the 2023 interest

4. to correct the 2022 error and adjust the 2022 error on equipment

5. to correct to correct the 2023 error and adjust the 2023 error on equipment

1. Sales for 2022 included $38,900 that had been received in cash during 2022 , but for which the related products were delivered in 2023. Title did not pass to the purchaser until 2023. 2. Ending inventory on December 31,2022 , was understated by $8,760. The December 31,2023 ending inventory has not yet been adjusted to the Inventory account. Assume that Blossom has a periodic inventory system and that no adjustment has been made to the opening balance of the Inventory account. 3. The bookkeeper, in recording interest expense for both 2022 and 2023 on bonds payable, made the following entry each year: Interest Expense 20,000 Cash 20,000 The bonds have a face value of $250,000 and pay a stated interest rate of 8%. They were issued at a discount of $20,000 on January 1, 2022, to yield an effective interest rate of 9%. (Use the effective interest method.) 4. Ordinary repairs to equipment had been charged in error to the Equipment account during 2022 and 2023 . In total, repairs in the amount of $8,900 in 2022 and $8,900 in 2023 were charged in this way. The company uses the declining-balance method and applies a rate of 10% in determining its depreciation charges. \begin{tabular}{|c|c|c|c|c|} \hline \multirow[b]{2}{*}{ Income before tax } & \multicolumn{2}{|c|}{2022} & \multicolumn{2}{|c|}{2023} \\ \hline & $ & 114,500 & $ & 79,800 \\ \hline \multicolumn{5}{|l|}{ Corrections: } \\ \hline Sales erroneously included in 2022 income & & 38,900 & & 38,900 \\ \hline Understatement of 2022 ending inventory & & 8,760 & & 8,760 \\ \hline Adjustment to bond interest expense & & -700 & & -763 \\ \hline Repairs erroneously charged to the Equipment account & & 8,900 & & 8,900 \\ \hline Depreciation recorded on improperly capitalized repairs & & 890 & & 1,691 \\ \hline Corrected income before tax & $ & 75,650 & $ & 101,968 \\ \hline \end{tabular}