On January 1, 2018, the general ledger of Freedom Fireworks includes the following account balances Accounts Debit Credit Cash $ 103,000 Accounts Receivable 37,600 Inventory 153,800 Land 85,300 Buildings 138,000 Allowance for Uncollectible Accounts $ 3,600 Accumulated Depreciation 11,400 Accounts Payable 37,500 Bonds Payable 138,000 Discount on Bonds Payable 31,800 Common Stock 218,000 Retained Earnings 141,000 Totals $ 549,500 $ 549,500 During January 2018, the following transactions occur January 1 Borrow $118,000 from Captive Credit Corporation The installment note bears interest at 6 annually and matures in 5 years Payments of $2,160 are required at the end of each month for 60 months January 1 Called the bonds at the contractual call price of $118,000 The 5 bonds pay interest semiannually each June 30 and December 31 January 4 Receive $32,800 from customers on accounts receivable January 10 Pay cash on accounts payable, $29,000 January 15 Pay cash for salaries, $30,700 January 30 Firework sales for the month total $210,600 Sales include $66,800 for cash and $143,800 on account The cost of the units sold is $121,500 January 31 Pay the first monthly installment of $2,160 related to the $118,000 borrowed on January 1 Round your interest calculation to the nearest dollar The following information is available on January 31, 2018 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 $25,800 At the end of January, $4,800 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 Unpaid salaries at the end of January are $27,900 Accrued income taxes at the end of January are $6,800 Record Transactions in general journal using FIFO perpetual inventory system, complete trial balance, mulit step income statement, classified balance sheet, debt to equity ratio, times interest earned ratio

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On January 1, 2018, the general ledger of Freedom Fireworks includes the following account balances: Accounts Debit Credit Cash $ 103,000 Accounts Receivable 37,600 Inventory

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

Accounts	Debit		Credit
Cash	$	103,000
Accounts Receivable		37,600
Inventory		153,800
Land		85,300
Buildings		138,000
Allowance for Uncollectible Accounts			$	3,600
Accumulated Depreciation				11,400
Accounts Payable				37,500
Bonds Payable				138,000
Discount on Bonds Payable		31,800
Common Stock				218,000
Retained Earnings				141,000
Totals	$	549,500	$	549,500

During January 2018, the following transactions occur:

January	1	Borrow $118,000 from Captive Credit Corporation. The installment note bears interest at 6% annually and matures in 5 years. Payments of $2,160 are required at the end of each month for 60 months.
January	1	Called the bonds at the contractual call price of $118,000. The 5% bonds pay interest semiannually each June 30 and December 31.
January	4	Receive $32,800 from customers on accounts receivable.
January	10	Pay cash on accounts payable, $29,000.
January	15	Pay cash for salaries, $30,700.
January	30	Firework sales for the month total $210,600. Sales include $66,800 for cash and $143,800 on account. The cost of the units sold is $121,500.
January	31	Pay the first monthly installment of $2,160 related to the $118,000 borrowed on January 1. Round your interest calculation to the nearest dollar.

The following information is available on January 31, 2018.

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 $25,800.
At the end of January, $4,800 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.
Unpaid salaries at the end of January are $27,900.
Accrued income taxes at the end of January are $6,800.

Record Transactions in general journal using FIFO perpetual inventory system, complete trial balance, mulit-step income statement, classified balance sheet, debt to equity ratio, times interest earned ratio.