On January 1, 2021, the general ledger of Big Blast Fireworks includes the following account balances: The $32,000 beginning balance of inventory consists of 320 units, each costing $100. During January 2021, Big Blast Fireworks had the following inventory transactions: January 3 Purchase 1,100 units for $117,700 on account (\$107 each). January 8 Purchase 1,200 units for $134,400 on account ($112,each). January 12 purchase 1,300 units for $152,100 on account (\$117 each). January 15 Retura 110 of the units purchased on January 12 because of defects, January 19 sel1 3,700 units on account for $555,000. The cost of the unite sold in determined using a rifo perpetual inventory aystem. January 22 Receive $533,000 from customers on accounts receivable. January 24 Pay $363,000 to inventory supplieri on accounts payable. January 27 Write off accounts receivable as uncollectible, $2,700. January 31 Pay cash for salarien during January, $116,000. 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. The company estimates future uncollectible accounts. The company determines $4,200 of accounts receivable on January 31 are past due, and 40% 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 $12,500. Journal entry worksheet Record the closing entry for revenue accounts. Note: Enter debits before credits. Journal entry worksheet Record the closing entry for expense accounts. Note: Enter debits before credits