On January 1, 2024, the general ledger of 30 Family Fireworks includes the following account balances: During January 2024, the following transactions occur: January 2 Provide services to custoners for eash, $36,100. January 6 provide services to customers on aceount, $73,400. January 15 Write oft accounts receivable as uncollectible, \$800. (Assume the conpany uses the allowance nethod) January 20 Pay cash for salaries, $31,500. January of Receive canh on accounts receivable, $71,000. January fo Day cash on accounta payable, $5,600. January So Pay cash for utilities during January, $13,800. The following information is available on January 31, 2024. a. The company estimates future uncollectible accounts. The company determines $5,100 of accounts receivable on January 31 are past due, and 20% 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 to split total accounts receivable into the $5,100 past due and the remaining amount not past due.) b. Supplies at the end of January total $750. All other supplies have been used. c. Accrued interest revenue on notes recelvable for January, Interest is expected to be received each December 31. d. Unpaid salaries at the end of January are $33,600. 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 to 7): Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 8 to 11). 3. Review the adjusted 'Trial Balance' as of January 31 , 2024, in the 'Trial Balance' tab. 4. Prepare an income statement for the period ended January 31, 2024, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of January 31, 2024 in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 12 and 13 ). 7. Using the information from the requirements above, complete the 'Analysis' tab. General Ledger Account 3D Family Fireworks Trial Balance January 30,2024 \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ 3D Family Fireworks } \\ \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline For Month Ended January 31, 2024 \\ \hline & & \\ \hline & & \\ \hline Total Revenue & & \\ \hline Expenses: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total Expenses & & \\ \hline \end{tabular} Enter your Accounts Receivable turnover value rounded to 1 decimal place and Ratio of Allowance for Uncollectible Accounts as percentage rounded to 1 decimal place: Journal entry worksheet Note: Enter debits before credits. On January 1, 2024, the general ledger of 30 Family Fireworks includes the following account balances: During January 2024, the following transactions occur: January 2 Provide services to custoners for eash, $36,100. January 6 provide services to customers on aceount, $73,400. January 15 Write oft accounts receivable as uncollectible, \$800. (Assume the conpany uses the allowance nethod) January 20 Pay cash for salaries, $31,500. January of Receive canh on accounts receivable, $71,000. January fo Day cash on accounta payable, $5,600. January So Pay cash for utilities during January, $13,800. The following information is available on January 31, 2024. a. The company estimates future uncollectible accounts. The company determines $5,100 of accounts receivable on January 31 are past due, and 20% 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 to split total accounts receivable into the $5,100 past due and the remaining amount not past due.) b. Supplies at the end of January total $750. All other supplies have been used. c. Accrued interest revenue on notes recelvable for January, Interest is expected to be received each December 31. d. Unpaid salaries at the end of January are $33,600. 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 to 7): Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 8 to 11). 3. Review the adjusted 'Trial Balance' as of January 31 , 2024, in the 'Trial Balance' tab. 4. Prepare an income statement for the period ended January 31, 2024, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of January 31, 2024 in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 12 and 13 ). 7. Using the information from the requirements above, complete the 'Analysis' tab. General Ledger Account 3D Family Fireworks Trial Balance January 30,2024 \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ 3D Family Fireworks } \\ \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline For Month Ended January 31, 2024 \\ \hline & & \\ \hline & & \\ \hline Total Revenue & & \\ \hline Expenses: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total Expenses & & \\ \hline \end{tabular} Enter your Accounts Receivable turnover value rounded to 1 decimal place and Ratio of Allowance for Uncollectible Accounts as percentage rounded to 1 decimal place: Journal entry worksheet Note: Enter debits before credits
