Whispering Winds Company's trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described following the trial balance. Credit Debit $28,000 37.000 9.900 -0- Cash Accounts Receivable Notes Receivable Interest Receivable Inventory Prepaid Insurance Land Buildings Equipment Patents Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accounts Payable 36.400 3.720 21,300 156,000 57.000 10.100 $450 52.000 22.800 27.500 255 AN -16 -0- 3,600 12,000 -0- 36,000 53,500 58,570 14.000 Salaries and Wages Payable Unearned Rent Revenue Notes Payable (due in 2020) Interest Payable Notes Payable (due after 2020) Common Stock Retained Earnings Dividends Sales Revenue Interest Revenue Rent Revenue Gain on Disposal of Plant Assets Bad Debts Expense Cost of Goods Sold Depreciation Expense Insurance Expense Interest Expense Other Operating Expenses Amortization Expense 905.000 -0 -O -0- -O 637,000 -O -0- -0- 61.000 -0 Amortization Expense Salaries and Wages Expense Total -0- 100,000 $1,171,420 $1,171.420 Unrecorded transactions: 1. On May 1, 2020, Whispering Winds purchased equipment for $16,200 plus sales taxes of $1,800 (all paid in cash). 2. On July 1, 2020, Whispering Winds sold for $3,600 equipment which originally cost $5,200. Accumulated depreciation on this equipment at January 1, 2020, was $1,800:2020 depreciation prior to the sale of the equipment was $400. 3. On December 31, 2020, 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, 2020. No interest has been recorded. 6. The balance in prepaid insurance represents payment of a $3,720 6-month premium on September 1, 2020. 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, 2020, 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 11 2020 and has ansallife of 10 years from that date 256 AM 10. The patent was acquired on January 1, 2020, and has a useful life of 10 years from that date. 11. Unpaid salaries and wages at December 31, 2020, total $2,200. 12. The unearned rent revenue of $3,600 was received on December 1, 2020, for 3 months' rent. 13. Both the short-term and long-term notes payable are dated January 1, 2020, and carry a 9% interest rate. All interest is payable in the next 12 months. Prepare journal entries for the transactions listed above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.)