On January $1,2024,$ the general ledger of Freedom Fireworks includes the following account balances:

Accounts Debit Credit

Cash $ $12,300$

Accounts Receivable $36,200$

Allowance for Uncollectible Accounts $ $2,900$

Inventory $153,100$

Land $78,300$

Buildings $131,000$

Accumulated Depreciation $10,700$

Accounts Payable $29,800$

Common Stock $211,000$

Retained Earnings $156,500$

Totals $ $410,900$ $ $410,900$

During January $2024,$ the following transactions occur:

January $1$ Borrow $$111,000$ from Captive Credit Corporation. The installment note bears interest at $6\%$ annually and matures in $5$ years. Payments of $$2,146$ are required at the end of each month for $60$ months.

January $4$ Receive $$32,100$ from customers on accounts receivable.

January $10$ Pay cash on accounts payable, $$22,000.$

January $15$ Pay cash for salaries, $$30,000.$

January $30$ Firework sales for the month total $$200,800.$ The cost of the units sold is $$118,000.$

January $31$ Pay the first monthly installment of $$2,146$ related to the $$111,000$ borrowed on January $1.$

The following information is available on January $31,2024.$

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 $$26,600.$

The company estimates additional future uncollectible accounts of $$1,844.$

Unpaid salaries at the end of January are $$27,200.$

Accrued income taxes at the end of January are $$9,100.$

The portion of Notes Payable $($long$-$term$)$ due within the next $12$ months is reclassified as Notes Payable $($current$).$ The amount of the reclassification is $$19,723.$