On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances Debit Credit Accounts $ 24,900 14,100 Cash Accounts Receivable Allowance for Uncollectible $ 1,806 Accounts Supplies Notes Receivable (6%, due in 2 years) Land 3,000 25,000 77,500 Accounts Pavable 8,800 101,000 32,900 Common Stock Retained Earnings $144, 500 $144, 500 Totals During January 2021, the following transactions occur: January 2 Provide services to customers for cash, $40,100 January 6 Provide services to customers on account, $77,40e. January 15 Write off accounts receivable as uncollectible, $1,400 January 20 Pay cash for salaries, $31, 900 January 22 Receive cash on accounts receivable, $75,000. January 25 Pay cash on accounts payable, $6,000. January 30 Pay cash for utilities during January, $14,200 The following information is available on January 31, 2021 a. The company estimates future uncollectible accounts. The company determines $5,500 of accounts receivable on January 31 are past due, and 20% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 5% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.) b. Supplies at the end of January total $950 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 $34,000 GeneralTrial Balance Ledger Requirement General StatementBalance Sheet Analysis Journal 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.) Date No General Journal Debit Credit 40,100 Jan 02, 2021 Cash 40,100 Service Revenue 77,400 2 Jan 06, 2021 Accounts Receivable 77,4000 Service Revenue 1,400 Jan 15, 2021 Allowance for Uncollectible Accounts 1,400 Accounts Receivable 4 Jan 20, 2021 Salaries Expense 31,900 Cash 31,900 75,000 Jan 22, 2021 Cash 5 75,000 Accounts Receivable 6,000 6 Jan 25, 2021 Accounts Payable 6,000 Cash 14,200 7 Jan 30, 2021 Utilities Expense Cash 14,200 8 Jan 31, 2021 Bad Debt Expense 1,855 1,855 Allowance for Uncollectible Accounts Jan 31, 2021 2,050 9 Supplies Expense Supplies 2,050 125 Jan 31, 2021 Interest Receivable 125 Interest Revenue 34,000 Jan 31, 2021 Salaries Expense Salaries Payable 34,000 117,500 125 Jan 31, 2021 Service Revenue Interest Revenue 13 Jan 31, 2021 Income Tax Expense 65,900 Salaries Expense 14,200 Utilities Expense Bad Debt Expense 2,050 Supplies Expense
