The unadjusted trial balance of Marigold Corp., a private company following ASPE, at December 31, 2020 is as follows: Debit Credit Cash $11,300 Accounts receivable 58,050 Allowance for doubtful accounts $750 FV-NI investments 8,250 Inventory 56,800 Prepaid insurance 2,928 Prepaid rent 12,396 FV-OCI investments 14,650 Bond investment at amortized cost 15,000 Land 11,050 Equipment 103,000 Accumulated depreciation-equipment 16,400 Accounts payable B,500 Bonds payable 50,000 Common shares 103,400 Retained earnings 97,189 Sales revenue 221,000 Rent revenue 9,660 Purchases 169,000 Purchase discounts 2,550 Freight out 8,700 Freight in 3,000 Salaries and wages expense 29,000 Interest expense 5,500 Miscellaneous expense 825 $509.449 $509,449 Additional information: 1. On November 1, 2020, Marigold received $9,660 rent from its lessee for a 12-month lease beginning on that date. This was credited to Rent Revenue. 2. Marigold estimates that 7% of the Accounts Receivable balances on December 31, 2020, will be uncollectible. On December 28, 2020, the bookkeeper incorrectly credited Sales Revenue for a receipt of $1,050 on account. This error had not yet been corrected on December 31. After a physical count, inventory on hand at December 31, 2020, was $83,000. (Use "Inventory" account for closing out the beginning inventory amount and recording the ending inventory amount.) 4. Prepaid insurance contains the premium costs of two policies: Policy A, cost of $1,344, two-year term, taken out on April 1, 2020; Policy B, cost of $1,584, three-year term, taken out on September 1, 2020. 5. The regular rate of depreciation is 10% of cost per year. Acquisitions and retirements during a year are depreciated at half this rate. There were no retirements during the year. On December 31, 2019, the balance of Equipment was $91,500. 6. On April 1, 2020, Marigold issued at par value 50 $1,000, 12% bonds maturing on April 1, 2024. Interest is paid on April 1 and October 1. 7. On August 1, 2020, Marigold purchased at par value 15 $1,000, 12% Splish Brothers Inc. bonds, maturing on July 31, 2022. Interest is paid on July 31 and January 31. B. On May 30, 2020, Marigold rented a warehouse for $1,033 per month and debited Prepaid Rent for an advance payment of $12,396. 9. Marigold's FV-NI investments consist of shares with total market value of $9,390 as at December 31, 2020. 10. The FV-OCI investment is an investment of 485 shares in Yop Inc., with current market value of $25 per share as of December 31, 2020.1. Rent Revenue 8050 x Unearned Rent V 8050 2. Sales Revenue 1050 Accounts Receivable 1050 (To correct incorrect entry.) Bad Debt Expense 3240 Allowance for Doubtful 3240 (To record bad debt expense.) 3. Inventory 143250 Cost of Goods Sold x 143250 Inventory 169450 x Purchase Discounts 2550 Purchases 169000 Freight In 3000 Insurance Expense 680 Prepaid Insurance 680 5. Depreciation Expense 10545 X Accumulated Depreciat 105454. Insurance Expense 680 Prepaid Insurance M 680 V 5. X Depreciation Expense 10545 Accumulated Depreciati x 10545 5. Interest Expense 1500 Interest Payable 1500 7. TInterest Receivable 750 Interest Income 750 K 8. Rent Expense 7231 Prepaid Rent 7231 9. FV-NI Investments 1140 X M. Unrealized Gain or Loss 1140 v 2525 M 10. Unrealized Gain or Loss - (