ok ences 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: Accounts Cash Debit Credit $ 25,800 Accounts Receivable 47,600 Allowance for Uncollectible Accounts $ 4,900 Inventory 20,700 Land $3,000 Equipment 18,500 Accumulated Depreciation 2,200 Accounts Payable 29, 200 Notes Payable (6%, due April 1, 2022) Common Stock 57,000 42,000 30,300 Retained Earnings Totals $165,600 $165,600 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $9,400. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $154,000. January 15 Firework sales for the first half of the month total $142,000. All of these sales are on account. The cost of the units sold is $77,300. January 23 Receive $126,100 from customers on accounts receivable. January 25 Pay $97,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $5,500. January 30 Firework sales for the second half of the month total $150,000. Sales include $15,000 for cash and $135,000 on account. The cost of the units sold is $83,000. January 31 Pay cash for monthly salaries, $52,700. Journal entry worksheet 1 2 Record the closing entry for revenue accounts. Note: Enter debits before credits. Date General Journal January 31, 2021 Record entry Clear entry Debit Credit View general journal > Journal entry worksheet