On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances: Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Supplies Notes Receivable (64, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Totals Debit Credit $ 27,700 15,500 $ 4,600 4,400 23,000 80,800 9,500 103,000 34,300 $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, 591,400. 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. a. 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. b. Supplies at the end of January total $900. Ret i ne following information is available on January 31, 2021. a. 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 b. Supplies at the end of January total $900. c Accrued interest revenue on notes receivable for January. Interest is expected to be received each December 31 d. 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.) Cash - 15,600 8 Jan 31, 2021 Bad Debt Expense Allowance for Uncollectible Accounts . 9 Jan 31, 2021 Supplies Expense Supplies 3,500 3,500 10 Jan 31, 2021 Interest Receivable Interest Revenue 11 Jan 31, 2021 35,400 Salaries Expense Salaries Payable 35,400 > 12 Jan 31, 2021 Interest Revenue Service Revenue lo 13 Jan 31, 2021 Retained Earnings Supplies Expense Salaries Expense Utilities Expense Bad Debt Expense OOOO 3,500 68,700 15,600 Now Cada 3D Family Fireworks Balance Sheet January 31, 2021 Liabilities Assets Current Assets: Cash Accounts Receivable Allowance for Uncollectible Accounts Interest Receivable Supplies DU 114,500 13,600 Current Liabilities: Accounts Payable Utilities Payable 2,100 0 (300) 0 900 Total Current Liabilities 2,100 128,700 Total Current Assets Long-term assets: Notes Receivable Land Total Liabilities Stockholders' Equity 2.100 0 23,000 80,800 0 0 Total Stockholders' Equity Total Liabilities & Stockholders' Equity Total Assets $ 232,500 0 2.100
