Exercise 5-21 Complete the accounting cycle using receivable transactions (LO5-1, 5-4, 5-5, 5-7, 5-8)Skip to question[The following information applies to the questions displayed below.]On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances:Accounts Debit CreditCash $ 27,500Accounts Receivable 15,400Allowance for Uncollectible Accounts $ 4,400Supplies 4,300Notes Receivable (6%, due in 2 years) 22,000Land 80,700Accounts Payable 9,300Common Stock 102,000Retained Earnings 34,200Totals $ 149,900 $ 149,900During January 2021, the following transactions occur:January 2 Provide services to customers for cash, $53,100.January 6 Provide services to customers on account, $90,400.January 15 Write off accounts receivable as uncollectible, $4,100.January 20 Pay cash for salaries, $33,200.January 22 Receive cash on accounts receivable, $88,000.January 25 Pay cash on accounts payable, $7,300.January 30 Pay cash for utilities during January, $15,500.rev: Exercise 5-21 Part 4 4. Prepare an income statement for the period ended January 31, 2021.