Windsor, Corporations balance sheet at December 31, 2021, is presented as follows. PREPARE JOURNAL ENTRIES AND BALANCE SHEET

WINDSOR, CORPORATION Balance Sheet December 31, 2021
Cash		$22,300			Accounts payable		$23,800
Accounts receivable		42,200			Common stock ($10 par)		77,000
Allowance for doubtful accounts		(1,300	)		Retained earnings		120,200
Supplies		4,600
Land		36,200
Buildings		138,200
Accumulated depreciationbuildings		(21,200	)
		$221,000					$221,000

During 2022, the following transactions occurred.

1.		On January 1, 2022, Windsor, issued 1,300 shares of $40 par, 7% preferred stock for $53,300.
2.		On January 1, 2022, Windsor, also issued 900 shares of the $10 par value common stock for $20,100.
3.		Windsor, performed services for $315,000 on account.
4.		On April 1, 2022, Windsor, collected fees of $38,000 in advance for services to be performed from April 1, 2022, to March 31, 2023.
5.		Windsor, collected $300,700 from customers on account.
6.		Windsor, bought $36,800 of supplies on account.
7.		Windsor, paid $29,900 on accounts payable.
8.		Windsor, reacquired 300 shares of its common stock on June 1, 2022, for $26 per share.
9.		Paid other operating expenses of $170,700.
10.		On December 31, 2022, Windsor, declared the annual preferred stock dividend and a $1.10 per share dividend on the outstanding common stock, all payable on January 15, 2023.
11.		An account receivable of $1,900 which originated in 2021 is written off as uncollectible.

Adjustment data:

1.		A count of supplies indicates that $6,500 of supplies remain unused at year-end.
2.		Recorded revenue from item 4 above.
3.		The allowance for doubtful accounts should have a balance of $3,800 at year-end.
4.		Depreciation is recorded on the building on a straight-line basis based on a 30-year life and a salvage value of $11,000.
5.		The income tax rate is 30%. (Hint: Prepare the income statement up to income before income taxes and multiply by 30% to compute the amount.)