On January 1, 2018, the general ledger of ACME Fireworks includes the following account balances DebitCredit $ 25,600 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2019) Common Stock Retained Earnings 20,500 51,000 17,500 2,000 29,000 55,000 40,000 31,100 Totals $161,800 $161,800 During January 2018, the following transactions January 2 Sold gift cards totaling $9,000. The cards are redeemable for merchandise within one year of occur. January 6 January 15 the purchase date Purchase additional inventory on account, $152,000 Firework sales for the first half of the month total $140,000. All of these sales are on account. The cost of the units sold is $76.300 January 23 Receive $125,900 from customers on accounts receivable January 25 Pay $95,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $5,300. January 30 Firework sales for the second half of the month total $148,000. Sales include $10,000 for cash and $138,000 on account. The cost of the units sold is $82,000 January 31 Pay cash for monthly salaries, $52,500 The following information is available on January 31, 2018 a. 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 $3,700 and a two-year service life b. At the end of January, $16,000 of accounts receivable are past due, and the company estimates that 30% of these accounts will hat 4% will not be collected. not be collected. Of the remaining accounts receivable, the company estimates t c. Accrued interest expense on notes payable for January d. Accrued income taxes at the end of January are $13,500 e. By the end of January, $3,500 of the gift cards sold on January 2 have been redeemed. GeneralTrial Balance Statement Ledger Income Balance Sheet Analysis General Requirement Journal 1. Record each of the transactions listed above in the 'General Journal tab (these are shown as items 1 10) assuming a FIFO perpetual inventory system. The transactions on January 15 and January 30 require 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 2. Record adjusting entries on January 31. in the 'General Journal' tab (these are shown as items 11-15) 3. Review the adjusted 'Trial Balance' as of January 31, 2018, in the 'Trial Balance' tab 4. Prepare a multiple-step income statement for the period ended January 31, 2018, in the 'Income Statement tab 5. Prepare a classified balance sheet as of January 31, 2018, in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 16 and 17) 7. Using the information from the requirements above, complete the 'Analysis tab. GeneralTrial Balance Statement Ledger General Journal Income Balance Sheet Analysis Requirement If no entry is required for a transaction/event, select "No journal entry required" in the first account field