Ivanhoe Corporation’s trial balance at December 31, 2022, is presented below. All 2022 transactions have been recorded e

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Ivanhoe 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
$27,540
Accounts Receivable
55,080
Inventory
24,516
Land
70,200
Buildings
102,600
Equipment
43,200
Allowance for Doubtful Accounts
$486
Accumulated Depreciation—Buildings
32,400
Accumulated Depreciation—Equipment
15,552
Accounts Payable
20,844
Interest Payable
–0–
Dividends Payable
–0–
Unearned Rent Revenue
8,640
Bonds Payable (10%)
54,000
Preferred Stock ($20 par)
–0–
Paid-in Capital in Excess of Par—Preferred Stock
–0–
Common Stock ($10 par)
32,400
Paid-in Capital in Excess of Par—Common Stock
6,480
Retained Earnings
81,054
Treasury Stock
–0–
Cash Dividends
–0–
Sales Revenue
615,600
Rent Revenue
–0–
Bad Debt Expense
–0–
Interest Expense
–0–
Cost of Goods Sold
432,000
Depreciation Expense
–0–
Other Operating Expenses
42,120
Salaries and Wages Expense
70,200
Total
$867,456
$867,456
Unrecorded transactions and adjustments:
(Ignore income taxes.)
(a)
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
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