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i need help filling out the trial balance and balance sheet Required Information Exercise 9-21 Complete the accounting cycle using long-term liability transactions (LO9-2, 9-8)

i need help filling out the trial balance and balance sheet
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Required Information Exercise 9-21 Complete the accounting cycle using long-term liability transactions (LO9-2, 9-8) [The following information applies to the questions displayed below.) On January 1, 2021, the general ledger of Freedom Fireworks includes the following account balances: Credit Accounta Cash Accounts Receivable Inventory Land Buildings Allowance for Uncollectible Accounts Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Totals Debit $ 12,700 37,000 153,500 82,300 135,000 $ 3,300 11,100 34,200 215,000 156, 900 $420,500 $420,500 During January 2021, the following transactions occur: January Borrow $115,000 from Captive Credit Corporation. The installment note bears interest at 61 annually 1 and matures in 5 years. Payments of $2,223 are required at the end of each month for 60 months. January Receive $32,500 from customers on accounts receivable. 4 January Pay cash on accounts payable, $26,000. 10 January Pay cash for salaries, $30,400. 15 January Firework sales for the month total $210,000. Sales include $66,500 for cash and $143,500 on account. 30 The cost of the units sold is $120,000. January Pay the first monthly installment of $2,223 related to the $115,000 borrowed on January 1. Round your 31 interest calculation to the nearest dollar. 3. Prepare an adjusted trial balance as of January 31, 2021. Credit Freedom Fireworks Adjusted Trial Balance January 31, 2021 Accounts Debit Depreciation Expense $ 135,000 Accumulated Depreciation 11,100 Bad Debt Expense Allowance for Uncollectible Accounts Salaries Expense Salaries Payable Income Tax Expense Income Tax Payable Notes Payable (Long-term) Notes Payable (Current) 5. Prepare a classified balance sheet as of January 31, 2021. (Hint: The carrying value of notes payable on January 31, 2021 is $113,352, $20,434 is reported as notes payable in the current liabilities section and $92,918 is reported as notes payable in the long-term liabilities section ($20,434 $92,918 - $113,352). (Amounts to be deducted should be Indicated with a minus sign.) Freedom Fireworks Classified Balance Sheet January 31, 2021 Assets Liabilities Total Current Liabilities + Total Liabilities Stockholder's Equity (6.565) (6,555) Total Current Assets 0 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 0 Total Assets $ (6.565)

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