On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Credit Debit $ 26,900 49,800 $ 6,000 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2022) Common Stock Retained Earnings Totals 21,800 64,000 24,000 3,300 30,300 68,000 53,000 25,900 $186,500 $186,500 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $11,600. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $165,000. January 15 Firework sales for the first half of the month total $153,000. All of these sales are on account. The cost of the units sold is $82,800. January 23 Receive $127, 200 from customers on accounts receivable. January 25 Pay $108,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $6,600. January 30 Firework sales for the second half of the month total $161,000. Sales include $18,000 for cash and $143,000 on account. The cost of the units sold is $88,500. January 31 Pay cash for monthly salaries, $53,800. 6. Record closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the closing entry for revenue accounts. Note: Enter debits before credits. Date General Journal Debit Credit January 31, 2021 Record entry Clear entry View general journal 6. Record closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet