On January 1, 2021, the general ledger of Big Blast Fireworks included the following account balances: Accounts Cash Debit $ 24,700 Credit Accounts receivable 43,500 Allowance for uncollectible accounts Inventory Land 3,100 44,000 82,600 Accounts payable Notes payable (9%, due in 3 years) Common stock Retained earnings Totals 28,200 44,000 70,000 49,500 $194,800 $194,800 The $44,000 beginning balance of inventory consists of 440 units, each costing $100. During January 2021, Big Blast Fireworks had the following inventory transactions: January 3 Purchased 1,250 units for $133,750 on account ($107 each). January 8 Purchased 1,350 units for $151,200 on account ($112 each). January 12 Purchased 1,450 units for $169,650 on account ($117 each). January 15 Returned 170 of the units purchased on January 12 because of defects. January 19 Sold 4,200 units on account for $630,000. The cost of the units sold is determined using a FIFO perpetual inventory system. January 22 Received $617,000 from customers on accounts receivable. January 24 Paid $420,000 to inventory suppliers on accounts payable. January 27 Wrote off accounts receivable as uncollectible, $2,300. January 31 Paid cash for salaries during January, $133,000. The following information is available on January 31, 2021. a. At the end of January, the company estimates that the remaining units of inventory are expected to sell in February for only $100 each. b. At the end of January, $5,400 of accounts receivable are past due, and the company estimates that 40% of these accounts will not be collected. Of the remaining accounts receivable, the company estimates that 5% will not be collected. c. Accrued interest expense on notes payable for January. Interest is expected to be paid each December 31. d. Accrued income taxes at the end of January are $13,700.