On January 1, 2018, the general ledger of Freedom Fireworks includes the following account balances: Accounts Cash Debit $101,400 Credit Accounts Receivable 34,400 Inventory 152,200 Land 69,300 Buildings 122,000 Allowance for Uncollectible Acounts $ 2,000 Accumulated Depreciation 9,800 Accounts Payable 19,900 Bonds Payable 122,000 Discount on Bonds Payable 30,200) Common Stock Retained Earnings Totals 202,000 153,600. $509,500 $509,500 During January 2018, the following transactions occur January 1 Borrow $102,000 from Captive Credit Corporation. The installment note bears interest at 74 annually and matures in 5 years. Payments of $2,000 are required at the end of each month for 60 months. January 1 Called the bonds at the contractual call price of $102,000. The 61 bonds pay interest semiannually each June 30 and December 31. January 4 Receive $31,200 from customers on accounts receivable. January 16 Fay cash on accounts payable, $13,000. January 15 Pay cash for salaries, $29,100. January 30 Pirework sales for the month total $195, 400. Sales include $65,200 for cash and $130,200 on account. The cost of the units sold is $113,500. January 31 Pay the first monthly installment of $2,000 related to the $102,000 borrowed on January 1. Round your interest calculation to the nearest dollar. The following information is available on January 31, 2018. a. 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 $24,200 b. At the end of January, $3,200 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 3% will not be collected. No accounts were written off as uncollectible in January. c. Unpaid salaries at the end of January are $26,300.