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Can you please find the closing entries for revenue and expenses and show all your work? Thank you! :) 20 6.95 po On January 1,

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Can you please find the closing entries for revenue and expenses and show all your work? Thank you! :)
20 6.95 po On January 1, 2021.the general ledger of TNT Fireworks includes the following account balances accounts Debit Cash Credit $ 59,00 Accounts Receivable 27,400 Allowance for Lincollectible Accounts $ 3,400 Lentory Hates Maceivable (5%, din 2 years) 37,500 tand 167.000 Accounts Payable 16,000 Con Stock 232,000 Katained Earnings 66,800 $318,200 $515,200 During January 2021, the following transactions occur January 1Purchase equipment for $20,70. The company estistes residual value of and a six-year service life January 4 Pay cash an accounts payable, $10,700. January 8Purchase additional Inventory on account, $50,000 January 15 Receive cash on accounts receivable, 593,200. January 19 Pay cash for salaries. $33,000 January 28 Pay cash for January utilities, $17.00 Suary 30 Sales for January total $232,000. All of these sales are not. The cost of the units sold is 5121, The following information is available on January 31, 2021. .. Depreciation on the equipment for the month of January his calculated using the straight line method. b. Accrued interest revenue on notes receivable for January c. Unpaid salaries at the end of January are $33,800 d. Accrued income taxes at the end of January are $10.200. . The company estimates and records bad debt expense (and adds to the Allowance account through this journal entry) at the end of each month. At the end of January, the company determines that determines 54.200 of the total Accounts Receivable account is over 90 days old, with the remaining A/R balance being current (Hint use the A/R balance in the General Ledger Tab). 50% of the A/R older than 90 days is estimated to be uncollectible, and 3 of the current balance is estimated to be incellarii la Blanca daratha Athar naar he added in the Alan AFFIN Rad Naht France and M 20 9 Jan 31 Depreciation Expense Accumulated Depreciation 250 250 10 Jan 31 Bad Debt Expense Allowance for Uncollectible Accounts 6.95 points 5,600 5,650 ebook Jan 31 11 Interest Receivable Interest Revenue 110 110 12 Jan 31 33,800 Salanes Expense Salaries Payablo 33,800 13 Jan 31 10.200 Income Tax Expense Income Tax Payable 10,200 14 Jan 31 232 000 Sales Revenue Retained Earnings 298 800 15 Jan 31 Retained Earnings Utilities Expenso Salaries Expense Depreciation Expense Bad Debt Expense Income Tax Expense 17,700 64,800 250 5,000 10 200 ME Gaw

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