Help fill in the blanks^^ (Marked RED means incorrect answer) and please show working.

During the first quarter of 2022 , the following transactions occurred: 1. On February 1, Flounder collected fees of $15,600 in advance. The company will perform $1,300 of services each month from February 1, 2022, to January 31, 2018. 2. On February 1, Flounder purchased computer equipment for $8,400 plus sales taxes of $600. $2,800 cash was paid with the rest on account. Check \#455 was used. 3. On March 1, Flounder acquired a patent with a 10-year life for $9,000 cash. Check #456 was used. 4. On March 28, Flounder recorded the quarter's sales in a single entry. During this period, Flounder had total sales of $180,000 (not including the sales referred to in item 1 above). All of the sales were on account. 5. On March 29, Flounder collected $173,000 from customers on account. 6. On March 29, Flounder paid $16,240 on accounts payable. Check #457 was used. 7. On March 29, Flounder paid other operating expenses of $95,000. Check \#458 was used. 8. On March 31, Flounder wrote off a receivable of $300 for a customer who declared bankruptcy. 9. On March 31, Flounder sold for $1,980 equipment that originally cost $13,000. It had an estimated life of 5 years and salvage of $1,000. Accumulated depreciation as of December 31, 2021, was $9,600 using the straight line method. (Hint: Record depreciation on the equipment sold, then record the sale.) Bank reconciliation data and adjustment data: 1. The company reconciles its bank statement every quarter. Information from the December 31,2021 , bank reconciliation is: The bank statement received for the quarter ended March 31, 2022, is as follows: 2. Record revenue earned from item 1 above. 3. $22,600 of accounts receivable at March 31,2022 , are not past due yet. The bad debt percentage for these is 4%. The balance of accounts receivable are past due. The bad debt percentage for these is 22.00%. Record bad debt expense. (Hint: You will need to compute the balance in accounts receivable before calculating this.) 4. Depreciation is recorded on the equipment still owned at March 31, 2022. The new equipment purchased in February is being depreciated on a straight-line basis over 5 years and salvage value was estimated at $900. The old equipment still owned is being depreciated over a 10-year life using straight-line with no salvage value. 5. Depreciation is recorded on the building on a straight-line basis based on a 30 -year life and a salvage value of $16,000. 6. Amortization is recorded on the patent. 7. The income tax rate is 30%. This amount will be paid when the tax return is due in April. (Hint: Prepare the income statement up to income before taxes and multiply by 30% to compute the amount.) Record journal entries for transactions 1-9. (Credit account titles are automatically indented when amount is entered. Do not indent manuallv. If no entrv is reauired. select "No Entrv" for the account titles and enter 0 for the amounts.) displayed in the problem Post the journal entries to the ledger accounts for items 1-9. (Post entries in the order of journal entries presented above.) Accounts Receivable Allowance for Doubtful Accounts \begin{tabular}{|l|l|ll} \hline Mar.31 & 300 & Bal. & 1,300 \\ \hline \end{tabular} Equipment \begin{tabular}{ll|ll|} \hline Bal. & 24,000 & 13,000 \\ \hline Peb. 1 & V & V & \\ \hline \end{tabular} Accumulated Depreciation-Equipment Land Bal. 20,000 Buildings Bal. 112,000 Accumulated Depreciation-Buildings \begin{tabular}{l|ll} \hline & Bal. & 13,000 \end{tabular} Patents Mar. 1 Accounts Payable Mar. 29 \begin{tabular}{|l|lr} \hline 16,240 & & 12,240 \\ \hline Bal. & & 6,200 \\ \hline \end{tabular} Unearned Service Revenue Common Stock Service Revenue Other Operating Expenses Mar. 29V95,000 Depreciation Expense Mar.31 600 180,000 Prepare an unadjusted trial balance at March 31. Flounder Corp. Trial Balance 3/31/22 Cash Accounts Receivable 29,500 Allowance for Doubtful Accounts Equipment Credit Equipment Accumulated Depreciation-Equipment 3,400 Land 20,000 Buildings 112,000 Accumulated Depreciation-Buildings Patents 9,000 1,000 Accounts Payable Unearned Service Revenue Common Stock 83,000 Retained Earnings Service Revenue Other Operating Expenses 95,000 Depreciation Expense 600 Loss on Disposal of Plant Assets Totals Prepare a bank reconciliation in good form. (List items that increase balance as per bank first.) Flounder Corp. Bank Reconciliation 3/31/22 \begin{tabular}{|lr|r|} \hline Balance Per Bank & & $ \\ \hline \end{tabular} \begin{tabular}{|ll} Add V: & V \\ \hline Deposits in Transit & \\ \hline \end{tabular} Less V: Outstanding Checks V \begin{tabular}{|lll|} \hline#454 & 5,855 & i \\ \hline \end{tabular} Adjusted Balance Per Bank V Balance Per Books $ 89,840 Less V: Bank Service Charge \begin{tabular}{l|l|} \hline & 100 \\ \hline$9,740 \\ \hline \end{tabular} Journalize entries related to bank reconciliation and all adjusting entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Post entries related to bank reconciliation and all adjusting entries. (Post entries in the order presented in the previous part. Round answers to 0 decimal places, e.g. 5,275.) Land Buildings \begin{tabular}{lr|r|} \hline \multicolumn{1}{l|}{ Bal. } & 112,000 & \\ \hline Bal. & & \\ \hline \end{tabular} Accumulated Depreciation-Buildings Patents \begin{tabular}{rr|rr} \hline Mar. 1 & 9,000 & Mar.31Adj. & 75 \\ \hline Bal. & & 8,925 & \\ \hline \end{tabular} Accounts Payable Unearned Service Revenue Income Taxes Payable Common Stock \begin{tabular}{l|ll} \hline & Bal. & 83,000 \\ \hline & & 83,000 \end{tabular} Retained Earnings \begin{tabular}{l|ll} \hline & Bal. & 78,560 \\ \hline & & 78,560 \end{tabular} Service Revenue Other Operating Expenses \begin{tabular}{lr|r|r|} \hline Mar. 29 & 95,000 & \\ \hline Mar. 31 Adj. V & 100 & \\ \hline Bal. & V & 95,100 & \\ \hline \end{tabular} Depreciation Expense \begin{tabular}{ll|l|} \hline Mar.31 & 600 & \\ \hline Mar.31Adj. V & & \end{tabular} Loss on Disposal of Plant Assets \begin{tabular}{rr|l} \hline Mar. 31 820 & \\ \hline & 820 & Losson Disposal of Plant Assets \\ \hline \end{tabular} Amortization Expense Bad Debt Expense \begin{tabular}{ll} \hline Mar.31Adj. V \\ \hline Mar.31 V \end{tabular} Income Tax Expense Mar. 31 Adj. V During the first quarter of 2022 , the following transactions occurred: 1. On February 1, Flounder collected fees of $15,600 in advance. The company will perform $1,300 of services each month from February 1, 2022, to January 31, 2018. 2. On February 1, Flounder purchased computer equipment for $8,400 plus sales taxes of $600. $2,800 cash was paid with the rest on account. Check \#455 was used. 3. On March 1, Flounder acquired a patent with a 10-year life for $9,000 cash. Check #456 was used. 4. On March 28, Flounder recorded the quarter's sales in a single entry. During this period, Flounder had total sales of $180,000 (not including the sales referred to in item 1 above). All of the sales were on account. 5. On March 29, Flounder collected $173,000 from customers on account. 6. On March 29, Flounder paid $16,240 on accounts payable. Check #457 was used. 7. On March 29, Flounder paid other operating expenses of $95,000. Check \#458 was used. 8. On March 31, Flounder wrote off a receivable of $300 for a customer who declared bankruptcy. 9. On March 31, Flounder sold for $1,980 equipment that originally cost $13,000. It had an estimated life of 5 years and salvage of $1,000. Accumulated depreciation as of December 31, 2021, was $9,600 using the straight line method. (Hint: Record depreciation on the equipment sold, then record the sale.) Bank reconciliation data and adjustment data: 1. The company reconciles its bank statement every quarter. Information from the December 31,2021 , bank reconciliation is: The bank statement received for the quarter ended March 31, 2022, is as follows: 2. Record revenue earned from item 1 above. 3. $22,600 of accounts receivable at March 31,2022 , are not past due yet. The bad debt percentage for these is 4%. The balance of accounts receivable are past due. The bad debt percentage for these is 22.00%. Record bad debt expense. (Hint: You will need to compute the balance in accounts receivable before calculating this.) 4. Depreciation is recorded on the equipment still owned at March 31, 2022. The new equipment purchased in February is being depreciated on a straight-line basis over 5 years and salvage value was estimated at $900. The old equipment still owned is being depreciated over a 10-year life using straight-line with no salvage value. 5. Depreciation is recorded on the building on a straight-line basis based on a 30 -year life and a salvage value of $16,000. 6. Amortization is recorded on the patent. 7. The income tax rate is 30%. This amount will be paid when the tax return is due in April. (Hint: Prepare the income statement up to income before taxes and multiply by 30% to compute the amount.) Record journal entries for transactions 1-9. (Credit account titles are automatically indented when amount is entered. Do not indent manuallv. If no entrv is reauired. select "No Entrv" for the account titles and enter 0 for the amounts.) displayed in the problem Post the journal entries to the ledger accounts for items 1-9. (Post entries in the order of journal entries presented above.) Accounts Receivable Allowance for Doubtful Accounts \begin{tabular}{|l|l|ll} \hline Mar.31 & 300 & Bal. & 1,300 \\ \hline \end{tabular} Equipment \begin{tabular}{ll|ll|} \hline Bal. & 24,000 & 13,000 \\ \hline Peb. 1 & V & V & \\ \hline \end{tabular} Accumulated Depreciation-Equipment Land Bal. 20,000 Buildings Bal. 112,000 Accumulated Depreciation-Buildings \begin{tabular}{l|ll} \hline & Bal. & 13,000 \end{tabular} Patents Mar. 1 Accounts Payable Mar. 29 \begin{tabular}{|l|lr} \hline 16,240 & & 12,240 \\ \hline Bal. & & 6,200 \\ \hline \end{tabular} Unearned Service Revenue Common Stock Service Revenue Other Operating Expenses Mar. 29V95,000 Depreciation Expense Mar.31 600 180,000 Prepare an unadjusted trial balance at March 31. Flounder Corp. Trial Balance 3/31/22 Cash Accounts Receivable 29,500 Allowance for Doubtful Accounts Equipment Credit Equipment Accumulated Depreciation-Equipment 3,400 Land 20,000 Buildings 112,000 Accumulated Depreciation-Buildings Patents 9,000 1,000 Accounts Payable Unearned Service Revenue Common Stock 83,000 Retained Earnings Service Revenue Other Operating Expenses 95,000 Depreciation Expense 600 Loss on Disposal of Plant Assets Totals Prepare a bank reconciliation in good form. (List items that increase balance as per bank first.) Flounder Corp. Bank Reconciliation 3/31/22 \begin{tabular}{|lr|r|} \hline Balance Per Bank & & $ \\ \hline \end{tabular} \begin{tabular}{|ll} Add V: & V \\ \hline Deposits in Transit & \\ \hline \end{tabular} Less V: Outstanding Checks V \begin{tabular}{|lll|} \hline#454 & 5,855 & i \\ \hline \end{tabular} Adjusted Balance Per Bank V Balance Per Books $ 89,840 Less V: Bank Service Charge \begin{tabular}{l|l|} \hline & 100 \\ \hline$9,740 \\ \hline \end{tabular} Journalize entries related to bank reconciliation and all adjusting entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Post entries related to bank reconciliation and all adjusting entries. (Post entries in the order presented in the previous part. Round answers to 0 decimal places, e.g. 5,275.) Land Buildings \begin{tabular}{lr|r|} \hline \multicolumn{1}{l|}{ Bal. } & 112,000 & \\ \hline Bal. & & \\ \hline \end{tabular} Accumulated Depreciation-Buildings Patents \begin{tabular}{rr|rr} \hline Mar. 1 & 9,000 & Mar.31Adj. & 75 \\ \hline Bal. & & 8,925 & \\ \hline \end{tabular} Accounts Payable Unearned Service Revenue Income Taxes Payable Common Stock \begin{tabular}{l|ll} \hline & Bal. & 83,000 \\ \hline & & 83,000 \end{tabular} Retained Earnings \begin{tabular}{l|ll} \hline & Bal. & 78,560 \\ \hline & & 78,560 \end{tabular} Service Revenue Other Operating Expenses \begin{tabular}{lr|r|r|} \hline Mar. 29 & 95,000 & \\ \hline Mar. 31 Adj. V & 100 & \\ \hline Bal. & V & 95,100 & \\ \hline \end{tabular} Depreciation Expense \begin{tabular}{ll|l|} \hline Mar.31 & 600 & \\ \hline Mar.31Adj. V & & \end{tabular} Loss on Disposal of Plant Assets \begin{tabular}{rr|l} \hline Mar. 31 820 & \\ \hline & 820 & Losson Disposal of Plant Assets \\ \hline \end{tabular} Amortization Expense Bad Debt Expense \begin{tabular}{ll} \hline Mar.31Adj. V \\ \hline Mar.31 V \end{tabular} Income Tax Expense Mar. 31 Adj. V