Additional questions:

P Raymond Company's trial balance at December 31, 2017, is presented below All 2017 transactions have been recorded except for the items described below and on page 473 Accounts Receivable Notes Receivable Interest Receivable Prepaid Insurance 160,000 Allowance for Doubful Accounts Accumulated Depreciation Buildings 49,000 Accounts Payable Income Tases Payable Salaries and Wages Payable Unearned Rent Revenue Notes Payable (due in 2018) Interest Payabk Notes Payable (due after 2018) Retained Earnings Sales Revenue Intcrest Revenuce Rent Revenue Gain on Disposal of Plant Assets Bad Debt Expense Cost of Goods Sold Depreciation Expense Income Tax Expense Insurance Expense Interest Expese Other Operating Expenses Amortization Expense Sallaries and Wages Expense 61,800 1.177 200 1On May 1,2017, Raymond purchased equipment for E13,000 plus sales tanes ol 780 (all paid in cash) 2. On July 1, 2017, Raymond sold for E3,500 equipment which originallh cos Es.000 Accumulated depreclation on this equipment at Jamuary 1, 2017, was C1.800 201 depreciation prior to the sale of the equipment was E450 3. On December 31, 2017, Raymond sold on account 69,400 of inventory that cost 4. Raymond estimates that uncollectible accounts receivable at yeanend is 64.000 5. The note receivable is a one-year, 8% note dated April 1, 2017. No intere has been 6. The balance in prepaid insurance represents payment of a E4,400 6-month premium on October 1,2017 7. The building is being deprociated using the straight-line method over 40 years. The residual value is (20,000 8. The equipment owned prior to this year is being depreciated using the straighs-l method over 5 years The residual value is 10% of cost. 9. The equipment purchased on May 1, 2017, is being depreciated using the straighs-ln method over 5 years, with a residual valae of 1,000 10. The palent was acquired on January 1, 2017, and has a useful life of 10years from tha 11. Unpaid salaries and wages at December 31. 2017, total 22,200 12. The unearned rent revenue of E6,000 was recelved on December 1, 2017,or 4 months 13. Both the short-term and long-term notes payable are daied Jamuary 1, 2017,andcay a9% interest rate. All inierest is payable in the next 12 months. 14. Income tax expense was C17,000. It was unpaid atl December 31 (a) Prepare journal entries for the transactions listed above (b) Prepare a December 31, 2017, adjusted (entries 4-14 are adjustments) trial ballanceTotals E1.22829 (c) Prepare a 2017 income statement and a 2017 retained carnings statement (d) Prepare a December 31, 2017, classified statement of financial position Net income 68,256 d Total assets E271 996