On January 1, 2018, the general ledger of Big Blast Fireworks Includes the following account balances. Accounts Debit Credit Cash $ 23, 100 Accounts Receivable 39,500 Inventory 36,000 Land 70,600 Allowance for Uncollectible Accounts 4,300 Accounts Payable 29,400 Notes Payable (81, die in 3 years) 36,000 Common Stock 62,000 Retained Earnings 27.500 Totals $169,200 $169,200 The $36,000 beginning balance of inventory consists of 360 units, each costing $100. During January 2018, Big Blast Fireworks hod the following inventory transactions: January 3 Purchase 1,500 units for $156,000 on account (5104 nach). January Purchase 1,600 units for $174,400 on account ($109 Sach) January 12 Purchase 1.700 units for $19), 800 on account ($114 each). January 15 Return 130 of the units purchased on January 12 because of defects. January 19 soll 4,900 units on account for $735,000. The cost of the units sold to determined using a FIFO perpetual inventory synten. January 22 Receive $709,000 from customers on accounts receivable. January 24 Pay 5500,000 to inventory supplere on accounts payable January 27 Write ott accounts receivable as uncollectible, $3,100. January 31 Pay cash for salaries during January, 5120,000 The following information is available on January 31, 2018 a. At the end of January, the company estimates that the remaining units of inventory are expected to sell in February for only $100 each b. At the end of January, $4,600 of accounts receivable are past due, and the company estimates that 30% of these accounts will not be collected. Of the remaining accounts receivable, the company estimates that 5% will not be collected c. Accrued Interest expense on notes payable for January, Interest is expected to be paid each December 31 d. Accrued income taxes at the end of January are $12,900, Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis 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. 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 11-14). Record the closing entries in the "General Journal" tab these are shown as items 15-17). (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) Show less