During January 2024, the following transactions occur: January 1 Borrow $100,000 from Captive Credit Corporation. The instaliment note bears interest at 7v annualty and matures in 5 years. Payments of $1,980 are required at the end of each month for 60 months. January 4 Receive $31,000 from customers on accounts receivable. January 10 Pay cash on accounts payable, $11,000. January 15 Pay cash for salaries, $28,900. January 30 Firework sales for the month total $195,000. The cost of the units sold is $112,500. January 31 Pay the first monthly installment of $1,980 related to the $100,000 borrowed on January 1. Exercise 9-24 (Static) Part 1 Required: 1. Record each of the transactions listed above. (If no entry is required for a particular transaction/event, select "No Journa Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) 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 $24,000. b. The company estimates additional future uncollectible accounts of $2,300. c. Unpaid salaries at the end of January are $26,100. d. Accrued income taxes at the end of January are $8,000. 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 $17,411. 2. Record the adjusting entries on January 31 for the above transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)