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

Accounts Debit Credit

Cash $$23,700$

Accounts Receivable $41,000$

Allowance for Uncollectible Accounts $$4,900$

Inventory $39,000$

Land $75,100$

Accounts Payable $27,900$

Notes Payable $(8\%,$ due in $3$ years$)39,000$

Common Stock $65,000$

Retained Earnings $42,000$

Totals $$178,800$ $$178,800$

The $$39,000$ beginning balance of inventory consists of $390$ units, each costing $$100.$ During January $2024,$ Big Blast Fireworks had the following inventory transactions:

January $3$ Purchase $1,800$ units for $$192,600$ on account $($$$107$ each$).$

January $8$ Purchase $1,900$ units for $$212,800$ on account $($$$112$ each$).$

January $12$ Purchase $2,000$ units for $$234,000$ on account $($$$117$ each$).$

January $15$ Return $145$ of the units purchased on January $12$ because of defects.

January $19$ Sell $5,800$ units on account for $$870,000$ The cost of the units sold is determined using a FIFO perpetual inventory system.

January $22$ Receive $$841,000$ from customers on accounts receivable.

January $24$ Pay $$585,000$ to inventory suppliers on accounts payable.

January $27$ Write off accounts receivable as uncollectible, $$3,400.$

January $31$ Pay cash for salaries during January, $$123,000.$

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 $$3,055.$ 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 $$13,200.$