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5 On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Debit Credit $ 25,800 47.600 $ 4,900 20,700 53.000
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On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Debit Credit $ 25,800 47.600 $ 4,900 20,700 53.000 18,500 Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notee Payable (61, due April 1, 2022) Common Stock Retained Earnings Totala 2,200 29,200 57.000 42.000 30,300 $165,600 $165,600 During January 2021, the following transactions occur. January 2 Sold gift carde totaling $9.400. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional Laventory 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 old a $77.300 January 2) Receive $126, 100 ron customers on accounts receivable. January 25 Pay $97,000 to inventory suppliers on accounts payable. January 20 Write of accounts receivable as uncollectible, $5.500. January 30 Tirework sales for the second half of the month total $150,000. Sales include $15,000 for cash and $135,000 on account. The cost of the units sold is $83,000. January 31 Pay cash for monthly salaries, $52,700. Record each of the transactions listed above. (If no entry is required for a particular transaction/event, select "No Journal Entry equired" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 Record sale of gift cards totaling $9.400. The cards are redeemable for merchandise within one year of the purchase date. Note: Enter debits before credits General Journal Debit Credit Date January 02 Record entry Clear entry View general Journal
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