O Required Information [The following information applies to the questions displayed below.] On January 1, 2021, the general ledger of ACME Fireworks Includes the following account balances: Credit Debit $ 25,480 46,800 $ 4,500 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2822) Common Stock Retained Earnings Totals 28,300 49, eee 16,5ee 1,800 28,888 53, eee 38,000 31,900 $ 158,000 $ 158,280 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $8,600. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $150, eee. January 15 Firework sales for the first half of the month total $138,280. All of these sales are on account. The cost of the units sold is $75,388. January 23 Receive $125,700 from customers on accounts receivable. January 25 Pay $93,888 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $5,100. January 30 Firework sales for the second half of the month total $146,890. Sales include $18,000 for cash and $128,000 on account. The cost of the units sold is $81,080. January 31 Pay cash for monthly salaries, $52,300. 6. Record closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. General Journal No Date Debit Credit 1 January 31, 2021 Sales Revenue 284,000 Retained Earnings 284,000 2 52,565 January 31, 2021 Retained Earnings Salaries Expense Interest Expense 52.300 265 Journal entry worksheet Record the closing entry for expense accounts. Note: Enter debits before credits. Debit Credit Date General Journal January 31, 2021 Retained Earnings Salaries Expense Interest Expense 52,300 285 Record entry Clear entry View general journal