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

Accounts Debit Credit

Cash $$25,300$

Accounts Receivable $45,000$

Allowance for Uncollectible Accounts $$3,700$

Inventory $47,000$

Land $87,100$

Accounts Payable $26,700$

Notes Payable $(12\%,$ due in $3$ years$)47,000$

Common Stock $73,000$

Retained Earnings $54,000$

Totals $$204,400$ $$204,400$

The $$47,000$ beginning balance of inventory consists of $470$ units, each costing $$100.$ During January $2024,$ Big Blast Fireworks had the following inventory transactions:

January $3$ Purchase $1,550$ units for $$170,500$ on account $($$$110$ each$).$

January $8$ Purchase $1,650$ units for $$189,750$ on account $($$$115$ each$).$

January $12$ Purchase $1,750$ units for $$210,000$ on account $($$$120$ each$).$

January $15$ Return $185$ of the units purchased on January $12$ because of defects.

January $19$ Sell $5,100$ units on account for $$765,000.$ The cost of the units sold is determined using a FIFO perpetual inventory system.

January $22$ Receive $$749,000$ from customers on accounts receivable.

January $24$ Pay $$520,000$ to inventory suppliers on accounts payable.

January $27$ Write off accounts receivable as uncollectible, $$2,600.$

January $31$ Pay cash for salaries during January, $$136,000.$

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

At the end of January, the company estimates that the remaining units of inventory purchased on January $12$ are expected to sell in February for only $$100$ each. $[$Hint: Determine the number of units remaining from January $12$ after subtracting the units returned on January $15$ and the units assumed sold $($FIFO$)$ on January $19.]$

The company records an adjusting entry for $$3,815$ for estimated future uncollectible accounts.

The company accrues interest on notes payable for January. Interest is expected to be paid each December $31.$

The company accrues income taxes at the end of January of $$14,000.$

At the end of January, the company estimates that the remaining units of inventory purchased on January $12$ are expected to sell in February for only $$100$ each. $[$Hint: Determine the number of units remaining from January $12$ after subtracting the units returned on January $15$ and the units assumed sold $($FIFO$)$ on January $19.]$

The company records an adjusting entry for $$3,815$ for estimated future uncollectible accounts.

The company accrues interest on notes payable for January. Interest is expected to be paid each December $31.$

The company accrues income taxes at the end of January of $$14,000.$

$2.$ Record adjusting entries on January $31$ for the above transactions. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$On January $1,2024,$ the general ledger of Big Blast Fireworks includes the following account balances:

Accounts Debit Credit

Cash $$25,300$

Accounts Receivable $45,000$

Allowance for Uncollectible Accounts $$3,700$

Inventory $47,000$

Land $87,100$

Accounts Payable $26,700$

Notes Payable $(12\%,$ due in $3$ years$)47,000$

Common Stock $73,000$

Retained Earnings $54,000$

Totals $$204,400$ $$204,400$

The $$47,000$ beginning balance of inventory consists of $470$ units, each costing $$100.$ During January $2024,$ Big Blast Fireworks had the following inventory transactions:

January $3$ Purchase $1,550$ units for $$170,500$ on account $($$$110$ each$).$

January $8$ Purchase $1,650$ units for $$189,750$ on account $($$$115$ each$).$

January $12$ Purchase $1,750$ units for $$210,000$ on account $($$$120$ each$).$

January $15$ Return $185$ of the units purchased on January $12$ because of defects.

January $19$ Sell $5,100$ units on account for $$765,000.$ The cost of the units sold is determined using a FIFO perpetual inventory system.

January $22$ Receive $$749,000$ from customers on accounts receivable.

January $24$ Pay $$520,000$ to inventory suppliers on accounts payable.

January $27$ Write off accounts receivable as uncollectible, $$2,600.$

January $31$ Pay cash for salaries during January, $$136,000.$

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

At the end of January, the company estimates that the remaining units of inventory purchased on January $12$ are expected to sell in February for only $$100$ each. $[$Hint: Determine the number of units remaining from January $12$ after subtracting the units returned on January $15$ and the units assumed sold $($FIFO$)$ on January $19.]$

The company records an adjusting entry for $$3,815$ for estimated future uncollectible accounts.

The company accrues interest on notes payable for January. Interest is expected to be paid each December $31.$

The company accrues income taxes at the end of January of $$14,000.$

At the end of January, the company estimates that the remaining units of inventory purchased on January $12$ are expected to sell in February for only $$100$ each. $[$Hint: Determine the number of units remaining from January $12$ after subtracting the units returned on January $15$ and the units assumed sold $($FIFO$)$ on January $19.]$

The company records an adjustin