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

Accounts Debit Credit

Cash $ $101,500$

Accounts receivable $34,600$

Inventory $152,300$

Land $70,300$

Buildings $123,000$

Allowance for uncollectible accounts $ $2,100$

Accumulated depreciation $9,900$

Accounts payable $21,000$

Bonds payable $123,000$

Discount on bonds payable $30,300$

Common stock $203,000$

Retained earnings $153,000$

Totals $ $512,000$ $ $512,000$

During January $2024,$ the following transactions occurred:

January $1$ Borrowed $$103,000$ from Captive Credit Corporation. The installment note bears interest at $6\%$ annually and matures in $5$ years. Payments of $$1,991\mathrm{.}28$ are required at the end of each month for $60$ months.

January $1$ Called the bonds at the contractual call price of $$103,000.$ The $5\%$ bonds pay interest semiannually each June $30$ and December $31.$

January $4$ Received $$31,300$ from customers on accounts receivable.

January $10$ Paid cash on accounts payable, $$14,000.$

January $15$ Paid cash for salaries, $$29,200.$

January $30$ Firework sales for the month totalled $$195,600.$ Sales included $$65,300$ for cash and $$130,300$ on account. The cost of the units sold was $$114,000.$

January $31$ Paid the first monthly installment of $$1,991$ related to the $$103,000$ 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 $$24,600.$

At the end of January, $$3,300$ of accounts receivable are past due, and the company estimates that $50\%$ of these accounts will not be collected. Of the remaining accounts receivable, the company estimates that $2\%$ will not be collected. No accounts were written off as uncollectible in January.

Unpaid salaries at the end of January are $$26,400.$

Accrued income taxes at the end of January are $$5,300.$