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

Accounts Debit Credit

Cash $$25,700$

Accounts Receivable $47,400$

Allowance for Uncollectible Accounts $$4,800$

Inventory $20,600$

Land $52,000$

Equipment $18,000$

Accumulated Depreciation $2,100$

Accounts Payable $29,100$

Notes Payable $(6\%,$ due April $1,2025)56,000$

Common Stock $41,000$

Retained Earnings $30,700$

Totals $$163,700$ $$163,700$

During January $2024,$ the following transactions occur:

January $2$ Sold gift cards totaling $$9,200.$ The cards are redeemable for merchandise within one year of the purchase date.

January $6$ Purchase additional inventory on account, $$153,000.$ ACME uses the perpetual inventory system.

January $15$ Firework sales for the first half of the month total $$141,000.$ All of these sales are on account. The cost of the units sold is $$76,800.$

January $23$ Receive $$126,000$ from customers on accounts receivable.

January $25$ Pay $$96,000$ to inventory suppliers on accounts payable.

January $28$ Write off accounts receivable as uncollectible, $$5,400.$

January $30$ Firework sales for the second half of the month total $$149,000.$ Sales include $$13,000$ for cash and $$136,000$ on account. The cost of the units sold is $$82,500.$

January $31$ Pay cash for monthly salaries, $$52,600.$

Depreciation on the equipment for the month of January is calculated using the straight$-$line method. At the time the equipment was purchased, the company estimated a residual value of $$3,600$ and a two$-$year service life.

The company records an adjusting entry for $$10,980$ for estimated future uncollectible accounts.

The company has accrued interest on notes payable for January.

The company has accrued income taxes at the end of January of $$13,600.$

By the end of January, $$3,600$ of the gift cards sold on January $2$ have been redeemed $($ignore cost of goods sold$).$

$2.$ Record the adjusting entries on January $31$ for the above transactions. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$Journal entry worksheet

$2,3,4,5$

Depreciation on the equipment for the month of January is calculated using

the straight$-$line method. At the time the equipment was purchased, the

company estimated a residual value of $$3,600$ and a two$-$year service life.

Record the depreciation for the month of January.

Note: Enter debits before credits.