Crane Company's balance sheet at December 31, 2021, is presented below. Crane Company Balance Sheet December 31, 2021 Cash $14,400 Accounts payable $8,850 Accounts receivable 19,100 Owner's capital 33,050 Allowance for doubtful accounts (900) Inventory 9,300 $41,900 $41,900 During January 2022, the following transactions occurred. Crane uses the perpetual inventory method. Jan. Crane accepted a 4-month, 8% note from Merando Company in payment of Merando's $2,100 account. 1 3 Crane wrote off as uncollectible the accounts of Inwood Corporation ($500) and Goza Company ($100). 8 Crane purchased $19,300 of inventory on account. 11 Crane sold for $27,400 on account inventory that cost $17,400. 15 Crane sold inventory that cost $700 to Mark Lauber for $1,400. Lauber charged this amount on his Visa First Bank card. The service fee charged Crane by First Bank is 3%. 17 Crane collected $22,400 from customers on account. No sales discounts were allowed. 21 Crane paid $16,200 on accounts payable. No purchase discounts were taken. 24 Crane received payment in full ($100) from Goza Company on the account written off on January 3. 27 Crane purchased supplies for $1,500 cash. 31 Crane paid other operating expenses, $3,200. Adjustment data: 1. Interest is recorded for the month on the note from January 1. 2. Uncollectibles are expected to be 6% of the January 31, 2022, accounts receivable. 3. A count of supplies on January 31, 2022, reveals that $600 remains unused. Account Titles and Explanation Debit Credit Notes Receivable 2.100 Accounts Receivable 2,100 Allowance for Doubtful Accounts 600 Accounts Receivable 600 Inventory 19,300 Accounts Payable 19,300 Accounts Receivable 27,400 Sales Revenue 27,400 (To record sales revenues.) Cost of Goods Sold 17,400 Inventory 17,400 (To record cost of goods sold.) ] Cash 1358 Service Charge Expense 42 Sales Revenue 1,400 (To record sales revenues and service charges.) Cost of Goods Sold 700 Inventory 700 (To record cost of goods sold.) Cash 22,400 Accounts Receivable 22,400 Accounts Payable 16,200 Cash 16,200 Accounts Receivable 100 Allowance for Doubtful Accounts 100 (To reinstate the account previously written-off.) Cash 100 Accounts Receivable 100 (To record the payment received.) Supplies 1,500 Cash 1,500 Other Operating Expenses 3,200 Cash 3,200 (To record other operating expense.) (1) Interest Receivable 14 Interest Revenue 14 (To record interest revenue.) (2) Bad Debt Expense 1144 Allowance for Doubtful Accounts 1144 (To record bad debts expense.) (3) Supplies Expense 900 Supplies 900 (To record supplies expense.) Prepare an adjusted trial balance at January 31, 2022. CRANE COMPANY Adjusted Trial Balance January 31, 2022 V Debit Credit Cash $ 17358 $ Accounts Receivable 22,400 Allowance for Doubtful Accounts Notes Receivable 2,100 Interest Receivable 14 Supplies 600 Inventory Accounts Payable Owner's Capital Sales Revenue Interest Revenue Supplies Expense Other Operating Expenses Cost of Goods Sold Bad Debt Expense Service Charge Expense Totals $ $ e Textbook and Media List of Accounts Prepare a multiple-step income statement for the month ending January 31, 2022. CRANE COMPANY Income Statement $ $ 1 $ Prepare an owner's equity statement for the month ending January 31, 2022. CRANE COMPANY Owner's Equity Statement $ $ CRANE COMPANY Balance Sheet Assets $ $ V $ Liabilities and Owner's Equity $ $