On January 1, 2021, the general ledger of Freedom Fireworks includes the following account balances: Accounts Cash Debit $102,300 Credit Accounts Receivable Inventory 36,200 153,100 Land 78,300 Buildings 131,000 Allowance for Uncollectible Accounts $ 2,900 Accumulated Depreciation 10,700 Accounts Payable 29,800 Bonds Payable 131,000 Discount on Bonds Payable 31,100 Common Stock 211,000 Retained Earnings Totals 146,600 $532,000 $532,000 During January 2021, the following transactions occurred: January 1 Borrowed $111,000 from Captive Credit Corporation. The installment note bears interest at 6% annually and matures in 5 years. Payments of $2,145.94 are required at the end of each month for 60 months. January 1 Called the bonds at the contractual call price of $111,000. The 7% bonds pay interest semiannually each June 30 and December 31. January 4 Received $32,100 from customers on accounts receivable. January 10 Paid cash on accounts payable, $22,000. January 15 Paid cash for salaries, $30,000. January 30 Firework sales for the month totaled $200,800. Sales included $66,100 for cash and $134,700 on account. The cost of the units sold was $118,000. January 31 Paid the first monthly installment of $2,146 related to the $111,000 borrowed on January 1. Round your interest calculation to the nearest dollar. The following information is available on January 31, 2021. 1. Depreciation on the building for the month of January is calculated using the straight-line method. At the time the building was purchased, the company estimated a service life of 10 years and a residual value of $26,600. 2. At the end of January, $4,100 of accounts receivable are past due, and the company estimates that 50% of these accounts will not be collected. Of the remaining accounts receivable, the company estimates that 2% will not be collected. No accounts were written off as uncollectible in January. 3. Unpaid salaries at the end of January are $27,200. 4. Accrued income taxes at the end of January are $6,100. Answer is not complete. General Requirement Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis 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.) No Date 1 Jan 01 Cash Account Title Debit Credit 111,000