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On January 1 , 2 0 2 4 , the general ledger of TNT Fireworks includes the following account balances: table [ [ Accounts

On January 1,2024, the general ledger of TNT Fireworks includes the following account balances:
\table[[Accounts,Debit,Credit],[Cash,59,400,],[Accounts Receivable,26,400,],[Allowance for Uncollectible Accounts,,],[Inventory,37,000,],[Notes Receivable , due in 2 years
The following information is available on January 31,2024.
a. Depreciation on the equipment for the month of January is calculated using the straight-line method.
b. The company records an adjusting entry for $3,490 for estimated future uncollectible accounts.
c. The company has accrued interest on notes receivable for January.
d. Unpaid salaries owed to employees at the end of January are $33,300.
e. The company accrued income taxes at the end of January $9,700.
\table[[Requirement,\table[[General],[Journal]],\table[[General],[Ledger]],Trial Balance,\table[[Income],[Statement]],Balance Sheet,Analysis]]
Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 to 8) assuming a FIFO perpetual inventory system. The transaction on January 30 requires two entries: one to record sales revenue and one to record cost of goods sold. Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances.
Record adjusting entries on January 31 in the 'General Journal' tab (these are shown as items 9 to 13).
Review the adjusted 'Trial Balance' as of January 31,2024, in the 'Trial Balance' tab.
Prepare a multiple-step income statement for the period ended January 31,2024, in the 'Income Statement' tab.
Prepare a classified balance sheet as of January 31,2024, in the 'Balance Sheet' tab.
Record the closing entries in the 'General Journal' tab (these are shown as items 14 and 15).
Using the information from the requirements above, complete the 'Analysis' tab.

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