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

Accounts	Debit			Credit
Cash	$	58,800
Accounts Receivable		25,200
Inventory		36,400
Notes Receivable (5%, due in 2 years)		13,200
Land		156,000
Allowance for Uncollectible Accounts					2,300
Accounts Payable					14,900
Common Stock					221,000
Retained Earning					51,400
Totals	$	289,600		$	289,600

During January 2018, the following transactions occur:

January 1	Purchase equipment for $19,600. The company estimates a residual value of $1,600 and a six-year service life.
January 4	Pay cash on accounts payable, $9,600.
January 8	Purchase additional inventory on account, $83,900.
January 15	Receive cash on accounts receivable, $22,100
January 19	Pay cash for salaries, $29,900.
January 28	Pay cash for January utilities, $16,600.
January 30	Firework sales for January total $221,000. All of these sales are on account. The cost of the units sold is $115,500.

The following information is available on January 31, 2018.

1. Depreciation on the equipment for the month of January is calculated using the straight-line method.
2. The company estimates future uncollectible accounts. At the end of January, considering the total ending balance of the accounts receivable account, $3,100 is now past due (older than 90 days), while the remainder of the balance is current (less than 90 days old). The company estimates that 50% of the past due balance will be uncollectible and only 2% of the current balance will become uncollectible.
3. Accrued interest revenue on notes receivable for January.
4. Unpaid salaries at the end of January are $32,700.
5. Accrued income taxes at the end of January are $9,100