Whispering Winds Companys trial balance at December 31, 2019, is presented below. All 2019 transactions have been recorded except for the items described following the trial balance.

	Debit		Credit
Cash	$28,000
Accounts Receivable	37,000
Notes Receivable	9,900
Interest Receivable	0
Inventory	36,400
Prepaid Insurance	3,720
Land	21,300
Buildings	156,000
Equipment	57,000
Patents	10,100
Allowance for Doubtful Accounts			$450
Accumulated DepreciationBuildings			52,000
Accumulated DepreciationEquipment			22,800
Accounts Payable			27,500
Salaries and Wages Payable			0
Unearned Rent Revenue			3,600
Notes Payable (due in 2020)			12,000
Interest Payable			0
Notes Payable (due after 2020)			36,000
Common Stock			53,500
Retained Earnings			58,570
Dividends	14,000
Sales Revenue			905,000
Interest Revenue			0
Rent Revenue			0
Gain on Disposal of Plant Assets			0
Bad Debts Expense	0
Cost of Goods Sold	637,000
Depreciation Expense	0
Insurance Expense	0
Interest Expense	0
Other Operating Expenses	61,000
Amortization Expense	0
Salaries and Wages Expense	100,000
Total	$1,171,420		$1,171,420

Unrecorded transactions:

1.		On May 1, 2019, Whispering Winds purchased equipment for $16,200 plus sales taxes of $1,800 (all paid in cash).
2.		On July 1, 2019, Whispering Winds sold for $3,600 equipment which originally cost $5,200. Accumulated depreciation on this equipment at January 1, 2019, was $1,800; 2019 depreciation prior to the sale of the equipment was $400.
3.		On December 31, 2019, Whispering Winds sold on account $5,500 of inventory that cost $3,300.
4.		Whispering Winds estimates that uncollectible accounts receivable at year-end is $4,200.
5.		The note receivable is a one-year, 8% note dated April 1, 2019. No interest has been recorded.
6.		The balance in prepaid insurance represents payment of a $3,720 6-month premium on September 1, 2019.
7.		The buildings are being depreciated using the straight-line method over 30 years. The salvage value is $30,000.
8.		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.
9.		The equipment purchased on May 1, 2019, is being depreciated using the straight-line method over 5 years, with a salvage value of $2,400.
10.		The patent was acquired on January 1, 2019, and has a useful life of 10 years from that date.
11.		Unpaid salaries and wages at December 31, 2019, total $2,200.
12.		The unearned rent revenue of $3,600 was received on December 1, 2019, for 3 months rent.
13.		Both the short-term and long-term notes payable are dated January 1, 2019, and carry a 9% interest rate. All interest is payable in the next 12 months.

Journalizing entries