Question: I need help journalizing these transactions. Grouper Corp's balance sheet at December 31, 2021, is presented below. GROUPER CORP Balance Sheet December 31, 2021 Cash
Grouper Corp's balance sheet at December 31, 2021, is presented below. GROUPER CORP Balance Sheet December 31, 2021 Cash $29,520 Accounts payable Common stock ($10 par) Accounts receivable 54,600 $30,720 96,000 152,880 Allowance for doubtful accounts (1,800) Retained earnings Supplies 5,280 Land 48,000 Buildings 170.400 Accumulated depreciation-buildings (26,400) $279,600 $279,600 During 2022, the following transactions occurred. 1. On January 1, Grouper issued 1,440 shares of $40 par, 7% preferred stock for $59.040. 2. On January 1, Grouper also issued 1,080 shares of the $10 par value common stock for $25,200. 3. Grouper performed services for $384,000 on account. 4. On April 1, 2022, Grouper collected fees of $43,200 in advance for services to be performed from April 1, 2022, to March 31, 2023. 5. Grouper collected $331,200 from customers on account. 6. Grouper bought $42.120 of supplies on account. 7. Grouper paid $38,640 on accounts payable. 8. Grouper reacquired 480 shares of its common stock on June 1 for $28 per share. 9. Paid other operating expenses of $225,840. 10. On December 31, 2022, Grouper declared the annual preferred stock dividend and a $1.20 per share dividend on the outstanding common stock, a payable on January 15, 2023. 11. An account receivable of $2,040 which originated in 2022 is written off as uncollectible
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