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During January 2024 , the following transactions occur: January 1 Borrow $107,000 from Captive Credit Corporation. The installment note bears interest at 68 annually and

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During January 2024 , the following transactions occur: January 1 Borrow $107,000 from Captive Credit Corporation. The installment note bears interest at 68 annually and matures in 5 years. Payments of $2,069 are required at the end of each month for 60 months. January 4 Receive $31,700 from customers on accounts receivable. January 10 Pay cash on accounts payable, $18,000. January 15 Pay cash for salaries, $29,600. January 30 Firework sales for the month total $200,000. The cost of the units sold is $116,000. January 31 Pay the first monthly installment of $2,069 related to the $107,000 borrowed on January 1. The following information is available on January 31, 2024. a. Depreciation on the building for the month of January is calculated using the straight-line method. At the time the building was purchased, the company estimated a service life of 10 years and a residual value of $25,000. b. The company estimates additional future uncollectible accounts of $4,722. c. Unpaid salaries at the end of January are $26,800. d. Accrued income taxes at the end of January are $8,700. e. The portion of Notes Payable (long-term) due within the next 12 months is reclassified as Notes Payable (current). The amount of the reclassification is $19,013. View transaction list View journal entry worksheet Requirement General Ledger > Choose the appropriate accounts to complete the company's income statement. Select 'adjusted' from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance. Choose the appropriate accounts to complete the company's balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Analyze the following for Freedom Fireworks: (Round your answer to one decimal place.) Analyze the following for Freedom Fireworks: ) Calculate the debt to equitv ratio. If the averaqe debt to equitv ratio for the industrv is 1 . is Freedom Fireworks more or less leveraqed than

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