On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances:

Accounts	Debit				Credit
Cash	$	27,700
Accounts Receivable		15,500
Allowance for Uncollectible Accounts					$	4,600
Supplies		4,400
Notes Receivable (6%, due in 2 years)		23,000
Land		80,800
Accounts Payable						9,500
Common Stock						103,000
Retained Earnings						34,300
Totals	$	151,400			$	151,400

During January 2021, the following transactions occur:

January		2		Provide services to customers for cash, $54,100.
January		6		Provide services to customers on account, $91,400.
January		15		Write off accounts receivable as uncollectible, $4,300.
January		20		Pay cash for salaries, $33,300.
January		22		Receive cash on accounts receivable, $89,000.
January		25		Pay cash on accounts payable, $7,400.
January		30		Pay cash for utilities during January, $15,600.

The following information is available on January 31, 2021.

1. At the end of January, $4,800 of accounts receivable are past due, and the company estimates that 20% of these accounts will not be collected. Of the remaining accounts receivable, the company estimates that 5% will not be collected. The note receivable of $23,000 is considered fully collectible and therefore is not included in the estimate of uncollectible accounts.
2. Supplies at the end of January total $900.
3. Accrued interest revenue on notes receivable for January. Interest is expected to be received each December 31.
4. Unpaid salaries at the end of January are $35,400.

* Answer is not complete. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) No Date General Journal Credit Debit 54,100 1 Jan 02, 2021 Cash Service Revenue 54,100 2 Jan 06, 2021 91,400 Accounts Receivable Service Revenue 91,400 3 Jan 15, 2021 4,300 Allowance for Uncollectible Accounts Accounts Receivable 4,300 4 Jan 20, 2021 Salaries Expense 33,300 Cash 33,300 5 Jan 22, 2021 89,000 Cash Accounts Receivable 89,000 6 Jan 25, 2021 Accounts Payable Cash 7,400 7,400 7 Jan 30, 2021 Utilities Expense 15,600 Cash 15,600 8 Jan 31, 2021 1,152 Bad Debt Expense Allowance for Uncollectible Accounts 1,152 X 9 Jan 31, 2021 3,500 Supplies Expense Supplies 3,500 10 Jan 31, 2021 115 Interest Receivable Interest Revenue 115 11 Jan 31, 2021 Salaries Expense Salaries Payable O 35,400 35,400 12 Jan 31, 2021 Interest Revenue Service Revenue Retained Earnings OO 115 145,500 145,615 13 Jan 31, 2021 55 652 X Retained Earnings Supplies Expense Utilities Payable Salaries Expense Bad Debt Expense OOOO 3,500 15,600 35,400 x 1,152 X Answer is not complete. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Enter your Accounts Receivable turnover value in 1 decimal place and Ratio of Allowance for Uncollectible Accounts in Whole number. Analyze how well 3D Family Fireworks manages its receivables (a) Calculate the receivables turnover ratio for the month of January (Hint: For the numerator, use total services provided to customers on account). If the industry average of the receivables turnover ratios for the month of January is 5.4 times, is the company collecting cash from customers more or less efficiently than other companies in the same industry? Accounts Receivable turnover: times The company is collecting more efficiently. (true or false) (6) Calculate the ratio of Allowance for Uncollectible Accounts to Accounts Receivable at the end of January. Based on a comparison of this ratio to the same ratio at the beginning of January, does the company expect an improvement or worsening in cash collections from customers on credit sales? Ratio of Allowance for Uncollectible Accounts to Accounts Receivable % Should the company expect improving or worsening conditions? I> $ 0 >>>> Total Expenses Net Income 48,900 -48,900 $ Answer is not complete. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Choose the appropriate accounts to complete the company's balance sheet. Make sure to select 'adjusted' from the dropdown, wh then populate the balances in those accounts from the adjusted trial balance. Post-closing 3D Family Fireworks Balance Sheet January 31, 2021 Assets Liabilities Current Assets Cash 114,500 13,600 Current Liabilities Salaries Payable Accounts Payable 00 35,400 2,100 Accounts Receivable Supplies 900 0 0 Total Current Liabilities 37,500 129,000 37,500 Total Current Assets Long-term assets: Land Total Liabilities Stockholders' Equity Retained Earnings Common Stock 80,800 75,363 103,000 Notes Receivable 23,000 0 Total Stockholders' Equity Total Liabilities & Stockholders' Equity 178,363 215,863 Total Assets $ 232,800 $