II, general ledger of Company A includes the following account balances: Accounts Cash Debit Accounts Receivable $ 12,200 Inventory 36,000 Land 153,000 Buildings 77.300 Allowance for Uncollectible Accounts 130,000 Accumulated Depreciation $ 2,800 Accounts Payable 10,600 Common Stock 28,709 210.ee Retained Earnings 156,400 Totals $488, see $488,500 During January Year 1, the following transactions occur: January Borrow $110,000 from Company B Corporation. The installment note bears interest at annually and matures in 5 years. Payments of $2,127 are required at the end of each month for 60 months. January Receive $32,eee from customers on accounts receivable. January Pay cash on accounts payable, $21,000. 10 January Pay cash for salaries, $29,900. 15 January Company A sales for the month total $200,600. Sales include $66.000 for cash and $134,6ee on account. The cost of the units sold is $117,500 January Pay the first monthly installment of $2,127 related to the $110,000 borrowed on January 1. Round your interest calculation to the nearest dollar. 30 The following information is available onkianuary 31 Year 1. 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 future uncollectible accounts. The company determines $4.000 of accounts receivable on January 31 are past due, and 50% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 2% of these accounts are estimated to be uncollectible. Hint Use the January 31 accounts receivable balance calculated in the general ledger) c. Unpaid salaries at the end of January are $27100. d. Accrued income taxes at the end of January are $9.000 e. $19,546 of the long-term note payable balance will be paid over the next year TUI Saldies, $29,900. 15 January Company A sales for the month total $200,600. Sales include $66,000 for cash a 30 $134,600 on account. The cost of the units sold is $117,500. January Pay the first monthly installment of $2,127 related to the $110,000 borrowed January 1. Round your interest calculation to the nearest dollar. 3. Prepare an adjusted trial balance as of January 31, Year 1. Company A Adjusted Trial Balance January 31, Year 1 Accounts Debit Credit Illeu lu the $118,680 borrowed on January 1. Round your interest calculation to the nearest dollar. 4. Prepare a multiple-step income statement for the period ended January 31, Year 1. Company A Multiple-Step Income Statement For the month ended January 31, Year 1 Gross Profit Expenses: Total Operating Expenses 31 JIS dlment of $2,127 related to the $110,000 borrowed on January 1. Round your interest calculation to the nearest dollar. IJU. 5. Prepare a classified balance sheet as of January 31, Year 1. (Hint: The carrying value of notes payable on January 31, Year 1 is $108,423: $19,546 is reported as notes payable in the current liabilities section and $88,877 is reported as notes payable in the long-term liabilities section ($19,546 + $88,877 = $108,423). (Amounts to be deducted should be indicated with a minus sign.) Company A Classified Balance Sheet January 31, Year 1 Assets Liabilities Total Current Liabilities Total Liabilities Stockholder's Equity (4,692)| (4,692) Total Current Assets Total Stockholders' Equity Total Liabilities and Stockholders' Equity (4,692) Total Assets les UI the month total $200,600. Sales include $66,000 for cash and 30 $134,600 on account. The cost of the units sold is $117.500. January Pay the first monthly installment of $2,127 related to the $110,000 borrowed on 31 January 1. Round your interest calculation to the nearest dollar. 6. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Require the first account field.) View transaction list Journal entry worksheet