On January 1, 2021, the general ledger of Big Blast Fireworks includes the following account balances: Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Accounts Payable Notes Payable (6%, due in 3 years) Common Stock Retained Earnings Totals Debit Credit $ 22,700 38,500 $ 3,900 34,000 67,600 30,400 34,000 60,000 34,500 $162,800 $162,800 The $34,000 beginning balance of inventory consists of 340 units, each costing $100. During January 2021, Big Blast Fireworks had the following inventory transactions: January 3 Purchase 1,300 units for $141,700 on account ($109 each). January & Purchase 1,400 units for $159,600 on account ($114 each). January 12 Purchase 1,580 units for $178,500 on account ($119 each). January 15 Return 12e of the units purchased on January 12 because of defects. January 19 Sell 4,300 units on account for $645,890. The cost of the units sold is determined using a FIFO perpetual inventory system. January 22 Receive $621,000 from customers on accounts receivable. January 24 Pay $451,000 to inventory suppliers on accounts payable. January 27 Write off accounts receivable as uncollectible, $2,980. January 31 Pay cash for salaries during January, $118,800. 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. The company estimates future uncollectible accounts. The company determines $4,400 of accounts receivable on January 31 are past due, and 35% 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.) 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 $12,700. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis View transaction list Journal entry worksheet The company estimates future uncollectible accounts. The company determines $4,400 of accounts receivable on January 31 are past due, and 35% 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 setimated to heuncollectible (Hint. Lee the lanuary 21 accounte Note: Enter debits before credits. Date Account Title Debit Credit Jan 31 Bad Debt Expense Allowance for Uncollectible Accounts Record entry Clear entry View general Journal