Wildhorse Corporation's balance sheet at December is presented as follows. WILDHORSE CORPORATION Balance Sheet December Debit:Cash $ Accounts receivable Allowance for doubtful accounts Supplies Land Buildings Accumulated depreciationbuildings Credit:Accounts payable $Common stock $ par Retained earnings Total debitcredit $During the following transactions occurred On January Wildhorse issued shares of $ par, preferred stock for $ On January Wildhorse also issued shares of the $ par value common stock for $ Wildhorse performed services for $ on account. On April Wildhorse collected fees of $ in advance for services to be performed from April to March Wildhorse collected $ from customers on account. Wildhorse bought $ of supplies on account. Wildhorse paid $ on accounts payable. Wildhorse reacquired shares of its common stock on June for $ per share. Paid other operating expenses of $ On December Wildhorse declared the annual preferred stock dividend and a $ per share dividend on the outstanding common stock, all payable on January An account receivable of $ which originated in is written off as uncollectible. Prepare the adjusting entries.
