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During 2022 , the following transactions occurred. Ivanhoe uses a perpetual inventory system. 1. Ivanhoe...

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Accounting

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During 2022 , the following transactions occurred. Ivanhoe uses a perpetual inventory system. 1. Ivanhoe paid $2,300 interest on the bonds on January 1,2022. 2. Ivanhoe purchased $242,200 of inventory on account. 3. Ivanhoe sold for $445,700 cash inventory which cost $250,800. Ivanhoe also collected $26,742 sales taxes. 4. Ivanhoe paid $228,100 on accounts payable. 5. The prepaid insurance ($5,000) expired on July 31 6. On August 1, Ivanhoe paid $12,000 for insurance coverage from August 1, 2022, through July 31, 2023. 7. Ivanhoe paid $24,600 sales taxes to the state. 8. Paid other operating expenses, $90,300. 9. Redeemed the bonds on December 31,2022 , by paying $44,160 plus $2,300 interest. 10. Issued $90,700 of 8% bonds on December 31,2022 , at 103 . The bonds pay interest every June 30 and December 31 . Adjustment data: 1. Recorded the insurance expired from item 6. 2. The equipment was acquired on December 31,2021 , and will be depreciated on a stralght-line basis over 5 years with a $3.000 salvage value: Prepare an adjusted trial balance at Deremher 31 snss

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