On January 1, 2021, the general ledger of TNT Fireworks includes the following account balances: Accounts Debit Credit Cash $ 59,700 Accounts Receivable 27,000 Allowance for Uncollectible Accounts $ 3,200 Inventory 37,300 Notes Receivable (5%, due in 2 years) 24,000 Land 165,000 Accounts Payable 15,800 Common Stock 230,000 Retained Earnings 64,000 Totals $313, ye $313,000 During January 2021, the following transactions occur: January 1 Purchase equipment for $20,500. The company estimates a residual value of $2,500 and a six-year January 4 Pay cash on accounts payable, $10,500. January 8 Purchase additional inventory on account, $92,900. January 15 Receive cash on accounts receivable, $23,000. January 19 Pay cash for salaries, $30,800. January 28 Pay cash for January utilities, $17,500. January 30 Sales for January total $230,000. All of these sales are on account. The cost of the units sold The following information is available on January 31, 2021