Accounts Receivable Allowance for Uncollectible Accounts Inventory Land 36,500 $3,100 30,000 61,600 Notes Payable (8%, due in 3 years) Common Stock Retained Earnings 32,400 30,000 56,000 Totals The $30,000 beginning balance of inventory consists of 300 units, each costing $100. During January 2018, Big Blast Fireworks had the following inventory transactions: $150000 $150,000 January 3 Purchase 1,200 units for $126,000 on account ($105 each). January 8 Purchase 1,300 units for $143,000 on account ($110 each). January 12Purchase 1,400 units for $161,000 on account ($115 each). January 15 Return 100 of the units purchased on January 12 because of defects. January 19 Sell 4,000 units on account for $600,000. The cost of the units sold is determined using a FIFO perpetual inventory system. January22 Receive $580,000 from customers on accounts receivable. January24 Pay $410,000 to inventory suppliers on accounts payable, January27 Write off accounts receivable as uncollectible, $2,500 January31 Pay cash for salaries during January, $128,000. Required