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Sunland Corporation's trial balance at December 31, 2022, is presented below. All 2022 transactions have been recorded except for the items described below. Debit Credit Cash $23,970 Accounts Receivable 47,940 Inventory 21.338 Land 61,100 Buildings 89.300 Equipment 37,600 Allowance for Doubtful Accounts $423 Accumulated Depreciation-Buildings 28,200 Accumulated Depreciation Equipment 13,536 Accounts Payable 18,142 Interest Payable -0- Dividends Payable -0- Unearned Rent Revenue 7,520 Bonds Payable (10%) 47,000 Preferred Stock ($20 par) -0- Paid-in Capital in Excess of Par-Preferred Stock -0- Common Stock ($10 par) 28,200 Paid-in Capital in Excess of Par-Common Stock 5,640 Retained Earnings 70,547 Treasury Stock -0- Cash Dividends -0- Sales Revenue 535,800 Rent Revenue -0- Bad Debt Expense -0- Interest Expense -0- Cost of Goods Sold 376,000 Depreciation Expense -0- Other Operating Expenses 36,660 Salaries and Wages Expense 61,100 Total $755,008 $755,008 Unrecorded transactions and adjustments: 1. On January 1, 2022, Sunland issued 940 shares of $20 par, 6% preferred stock for $20,680. 2. On January 1, 2022, Sunland also issued 940 shares of common stock for $21,620. 3. Sunland reacquired 282 shares of its common stock on July 1, 2022, for $49 per share. 4. On December 31, 2022, Sunland declared the annual cash dividend on the preferred stock and a $1.50 per share dividend on the outstanding common stock, all payable on January 15, 2023. 5. Sunland estimates that uncollectible accounts receivable at year-end are $4,794. 6. The building is being depreciated using the straight-line method over 30 years. The salvage value is $4,700. 7. The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $3,760. 8. The unearned rent was collected on October 1, 2022. It was receipt of 4 months' rent in advance (October 1, 2022 through January 31, 2023). 9. The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2022, has not been paid or recorded. Prepare journal entries for the transactions and adjustment listed above. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. Cash 20680 Preferred Stock 18800 Paid-in Capital in Excess of Par-Preferred Stock 1880 2. Cash 21620 Common Stock 9400 Paid-in Capital in Excess of Par-Common Stock 12220 3. Treasury Stock 13818 Cash 13818 4. Cash Dividends 6768 Dividends Payable 6768 5. Bad Debt Expense 4794 Allowance for Doubtful Accounts 4794 6. Depreciation Expense 2820 Accumulated Depreciation-Buildings 2820 7. Depreciation Expense 3384 Accumulated Depreciation-Equipment 3384 8. . Unearned Rent Revenue 5640 Rent Revenue 5640 9. Interest Expense 4700 Interest Payable 4700

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