On January 1, 2018, the general ledger of ACME Fireworks includes the following account balances: Accounts Debit Credit 25,500 Cash 47,000 Accounts Receivable Allowance for Uncollectible Accounts 4,600 Inventory 20,400 and 50,000 17,000 Equipment Accumulated Depreciation 1,900 Accounts Payable 28,900 Notes Payable (6%, due April 1, 2019) 54,000 39,000 Common Stock 31,500 Retained Earnings Totals $159,900 $159,900 During January 2018, the following transactions occur: January 22 Sold gift cards totaling $8,800. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $151,000 January 15 Firework sales for the first half of the month total $139,000. All of these sales are on account. The cost of the units sold is $75,800. January 23 Receive $125,800 from customers on accounts receivable. January 25 Pay $94,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $5,200. January 30 Firework sales for the second half of the month total $147,000. Sales include $12,000 for cash and $135,000 on account. The cost of the units sold is $81,500. January 31 Pay cash for monthly salaries, $52,400