General journal for the following. Thank you
On January 1,2018, the general kdger of ACME Fureworks includes the folowing account balances s 25,700 47 400 Allowance for Uncollectible Accounts s 4,800 0,600 52,000 18,000 Equipment Accumulated Depreciation Accounts Payable Notes Payable 06% due April 1, 2019) Common Stock Retained Eamings 29,100 6,000 41,000 30,700 Totals 163,700 $163 700 During January 2018, the following transactions occur January 2Sold gift cards totaling $9,200. The cards are redeemable for merchandse within one year of the purchase date January 6 Purchase additional iventory on account, $153,000 January 15 Firework sales for the first half of the month total $141,000 Al of these sales are on account The cost of the units sold is $76,800 January 23 Receive $126,000 from customers on accounts recevable January 25 Pay $96,000 to innventory suppliers on accounts payable January 28 Write off accounts receivable as uncolectible, $5,400 January 30 Firework sales for the second half of the month total $149,000 Sales include $13,000 for cash and $136,000 on account The cost of the units sold is $82,500 January 31 Pay cash for monthly salaries $52.600 The following information is available on January 31, 2018. a Depreciation on the equipment for the month of January is calculated using the straight-line method. Al the time the equipment was purchased, the company estimated a residuai value of and a two-year service hfe b Al the end of January. $17,000 of accounts receivable are oS! due, and the company est ates that 30% of these accounts will not be collected Of the ema accounts estimates that 3% wi" not be collected c Accrued interest expense on notes payable for January d. Accrued income taxes at the end of January are $13,600 e By the end of January, $3,600 of the gih cards sold on January 2 have been redeemed On January 1,2018, the general kdger of ACME Fureworks includes the folowing account balances s 25,700 47 400 Allowance for Uncollectible Accounts s 4,800 0,600 52,000 18,000 Equipment Accumulated Depreciation Accounts Payable Notes Payable 06% due April 1, 2019) Common Stock Retained Eamings 29,100 6,000 41,000 30,700 Totals 163,700 $163 700 During January 2018, the following transactions occur January 2Sold gift cards totaling $9,200. The cards are redeemable for merchandse within one year of the purchase date January 6 Purchase additional iventory on account, $153,000 January 15 Firework sales for the first half of the month total $141,000 Al of these sales are on account The cost of the units sold is $76,800 January 23 Receive $126,000 from customers on accounts recevable January 25 Pay $96,000 to innventory suppliers on accounts payable January 28 Write off accounts receivable as uncolectible, $5,400 January 30 Firework sales for the second half of the month total $149,000 Sales include $13,000 for cash and $136,000 on account The cost of the units sold is $82,500 January 31 Pay cash for monthly salaries $52.600 The following information is available on January 31, 2018. a Depreciation on the equipment for the month of January is calculated using the straight-line method. Al the time the equipment was purchased, the company estimated a residuai value of and a two-year service hfe b Al the end of January. $17,000 of accounts receivable are oS! due, and the company est ates that 30% of these accounts will not be collected Of the ema accounts estimates that 3% wi" not be collected c Accrued interest expense on notes payable for January d. Accrued income taxes at the end of January are $13,600 e By the end of January, $3,600 of the gih cards sold on January 2 have been redeemed
