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 Uncollectible Accounts Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Totals Debit $ 12,500 36,600 153,300 80,300 133,800 $ 3,100 10,900 32,000 213,000 156,700 $415,700 $415,700 During January 2021, the following transactions occur. January 1 Borrow $113,000 from Captive Credit Corporation. The installment note bears interest at 6% annually and matures in 5 years. Payments of $2,185 are required at the end of each month for 60 months. January 4 Receive 532,306 from customers on accounts receivable. January 10 Pay cash on accounts payable, $24,000. January 15 Pay cash for salaries, $30,200. January 30 Firework sales for the month total $201,200. Sales include 566,300 for cash and $134,900 on account. The cost of the units sold is $119,000 January 31 Pay the first monthly installment of $2,185 related to the $113, de borrowed on January 1. Round your interest calculation to the nearest dollor. The following information is available on January 31, 2021 a. Depreciation on the building for the month of January is calculated using the straightline method. At the time the building was purchased, the company estimated a service life of 10 years and a residual value of $26,800 b. Unpaid salaries at the end of January are $27.400 c. Accrued income taxes at the end of January are $9,300 d. $20,079 of the long-term note payable balance will be paid over the next year, e. The company estimates and records bad debt expense (and adds to the Allowance account through this journal entry) at the end of each month At the end of January, the company determines that determines $4 300 of the total Accounts Receivable account is over 90 days old with the remaining A/R balance being current (Hint use the A/R balance in the General Ledger Tab) 50% of the A/R older than 90 days is estimated to be uncollectible, and 2% of the current balance is estimated to be uncollectible. Please calculate the amount that needs to be added to the Allowance account and Bad Debt Expense and complete the journal entry (Watch video tutorial on this subject https://vimeo.com/cd/video/review/254531867/7c9cc20218) Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Tanda 26 Journal entry worksheet Receive $32,300 from customers on accounts receivable. 01:07:06 Note: Enter debits before credits Book Date Account Title Credit Jan 04 Debit 32,300 32,300 Record entry Clear entry View general journal Journal entry worksheet 6 7 2 3 14 8