On January 1, 2021, the general ledger of Freedom Fireworks includes the following account balances Credit Accounts Cash Accounts Receivable Inventory Land Buildings Allowance for Incollectible Accounts Accumulated Depreciation Accounts Payable Common Stock Metained Earnings Debit $ 12,800 37,200 153,600 83,300 136,000 $3,400 11,200 35,300 216,000 152.000 $422,900 Totals 5422,900 During January 2021, the following transactions occur Baruary Borrow $116,000 from Captive Credit Corporation. The installment note bears Interest at annually and matures 1 In 5 years. Payments of $2,24) are required at the end of each month for 6 months. January Receive 532,800 from customers on accounts receivable 4 January Pay cash on accounts payable, 527,000. January Pay cash for salaries, 550,500 15 January reworks for the month total 5210,200. Sales include 566,600 for cash and 5143,600 on account. The cost 30 of the waits sold is $520,500 January Pay the test worthly installment of $2,245 rete to the $116,000 borrowed on January 1 Hound your interest calculation to the nearest dollar The following information is available on January 3, 2021 Depreciation on the building for the month of January calculated using the straight line method. At the time the building was purchased the company emated a service of 10 years and residual value of $25 600 The company estimates future uncollectible accounts. The company determines $4600 of occounts receivable on January 31 ore pas de and so of accounts are estimated to be uncollectible. The remaining necounts receivable on January 31 are not est due and 2 othee sccounts are estimated to be uncollectible Hint Use the January 31 accounts receivable balance calculated in the general ledge Uudes the end of Jane 527700 calculated in the general ledger) c Unpaid salaries at the end of January are $27700 d. Accrued income taxes at the end of January are $9,600 e $20.612 of the long-term note payable balance will be pold over the next year 2. Record the adjusting entries on January 31 for the above transactions. If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)