1. record the depreciation for the month of january.

2. record bad debts at the end of january

3. accrued interest expense on notes payable for january

4. accrued income taxes at the end of january are $13,700

5. by the end of january, $3,700 of the gift cards sold on january 2 have been redeemed

The following information applies to the questions displayed below. On January 1, 2018, the general ledger of ACME Fireworks includes the following account balances: Debit Credit Cash Accounts Receivable Allowance for Uncollectible Accounts $25,800 47600 $4,900 20,700 53,000 18,500 Land Equipment 2,200 29,200 57,000 42,000 30,300 Accounts Payable Notes Payable (6%, due April 1, 2019) Common Stock Retained Earnings Totals $165,600 $165,600 During January 2018, the following transactions occur: January 2. Sold gift cards totaling $9,400. The cards are redeemable for merchandise within one year of the purchase date. January 6. Purchase additional inventory on account, $154,000 January 15. Firework sales for the first half of the month total $142,000. All of these sales are on account. The cost of the units sold is $77,300. January 23. Receive $126,100 from customers on accounts receivable. January 25. Pay $97,000 to inventory suppliers on accounts payable. January 28. Write off accounts receivable as uncollectible, $5,500 January 30. Firework sales for the second half of the month total $150.000. Sales include $15,000 for cash and $135000 on account. The cost of the units sold is $83,000 January 31. Pay cash for monthly salaries, $52,700. 1. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a residual value of $4,700 and a two-year service life. 2. The company estimates future uncollectible accounts. The company determines $18,000 of accounts receivable on January 31 are past due, and 30% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 5% of these accounts are estimated to be uncollectible Hint: Use the January 31 accounts receivable balance calculated in the general edger.) 3. Accrued interest expense on notes payable for January. 4. Accrued income taxes at the end of January are $13,700 5. By the end of January, $3,700 of the gift cards sold on January 2 have been redeemed 2. Record the adjusting entries on January 31 for the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld.) View transaction list View journal entry worksheet Credit Debit Import a new list 575 Record the depreciation for the month of January 2 Record bad debts at the end of January. 3 Accrued interest expense on notes payable for January. 4 Accrued income taxes at the end of January are $13,700. 5 By the end of January, $3,700 of the gift cards sold on January 2 have been redeemed