On January 1, 2018, the general ledger of Freedom Fireworks includes the following account balances:

Accounts	DEBIT	CREDIT
CASH	102,900
ACCOUNTS RECEIVABLE	37,400
INVENTORY	153,700
LAND	84,300
BUILDINGS	137,000
ALLOWANCE FOR UNCOLLECTIBLE ACCOUNTS		3,500
ACCUMULATED DEPRECIATION		11,300
ACCOUNTS PAYABLE		36,400
BONDS PAYABLE		137,000
DISCOUNT ON BONDS PAYABLE	25,000
COMMON STOCK		217,000
RETAINED EARNINGS		135,100
TOTALS	540,300	540,300

During January 2018, the following transactions occur:

January		1		Borrow $117,000 from Captive Credit Corporation. The installment note bears interest at 4% annually and matures in 5 years. Payments of $2,150 are required at the end of each month for 60 months.
January		1		Called the bonds at the contractual call price of $117,000. The 6% bonds pay interest semiannually each June 30 and December 31.
January		4		Receive $32,700 from customers on accounts receivable.
January		10		Pay cash on accounts payable, $28,000.
January		15		Pay cash for salaries, $30,600.
January		30		Firework sales for the month total $198,000. Sales include $66,700 for cash and $131,300 on account. The cost of the units sold is $119,000.
January		31		Pay the first monthly installment of $2,150 related to the $117,000 borrowed on January 1. Round your interest calculation to the nearest dollar.

The following information is available on January 31, 2018.

1. Depreciation on the building for the month of January is calculated using the straight-line method. At the time the building was purchased, the company estimated a service life of 10 years and a residual value of $27,200.
2. At the end of January, $4,700 of accounts receivable are past due, and the company estimates that 50% of these accounts will not be collected. Of the remaining accounts receivable, the company estimates that 2% will not be collected. No accounts were written off as uncollectible in January.
3. Unpaid salaries at the end of January are $27,800.
4. Accrued income taxes at the end of January are $6,700.

Please include calculations

General Journal GeneralTrial Bae Ledger Requirement StatementBalance Sheet Analysis 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1-8) 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. 2. Record adjusting entries on January 31. in the 'General Journal' tab (these are shown as items 9-12) 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 13-15) 7. Using the information from the requirements above, complete the 'Analysis' tab