On January 1, 2024, the general ledger of ACME Fireworks includes the following account balances:

Accounts: Credit Cash $25,600 Accounts Receivable 47,200 Allowance for Uncollectible Accounts $4,700 Inventory 20,500 Land 51,000 Equipment 17,500 Accumulated Depreciation 2,000 Accounts Payable 29,000 Notes Payable (6%, due April 1, 2025) 55,000 Common Stock 40,000 Retained Earnings 31,100 Totals $161,800 $161,800

During January 2024, the following transactions occur:

January 2	Sold gift cards totaling $9,000. The cards are redeemable for merchandise within one year of the purchase date.
January 6	Purchase additional inventory on account, $152,000. ACME uses the perpetual inventory system.
January 15	Firework sales for the first half of the month total $140,000. All of these sales are on account. The cost of the units sold is $76,300.
January 23	Receive $125,900 from customers on accounts receivable.
January 25	Pay $95,000 to inventory suppliers on accounts payable.
January 28	Write off accounts receivable as uncollectible, $5,300.
January 30	Firework sales for the second half of the month total $148,000. Sales include $10,000 for cash and $138,000 on account. The cost of the units sold is $82,000.
January 31	Pay cash for monthly salaries, $52,500.

The following information is available on January 31.

1. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a residual value of $3,700 and a two-year service life.
2. The company records an adjusting entry for $12,520 for estimated future uncollectible accounts.
3. The company has accrued interest on notes payable for January.
4. The company has accrued income taxes at the end of January of $13,500.
5. By the end of January, $3,500 of the gift cards sold on January 2 have been redeemed (ignore cost of goods sold).

RECORD THE JORNAL ENTRIES:

8: Record firework sales for the second half of the month totaling $148,000. Sales include $10,000 for cash and $138,000 on account.

9: Firework sales for the second half of the month total $148,000. Sales include $10,000 for cash and $138,000 on account. The cost of the units sold is $82,000. Record the cost of the units sold.

10: Record payment of cash for monthly salaries, $52,500.

11: Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a residual value of $3,700 and a two-year service life. Record the adjusting entry for depreciation.

12: The company records an adjusting entry for $12,520 for estimated future uncollectible accounts.

13: The company has accrued interest on notes payable for January.

14: The company has accrued income taxes at the end of January of $13,500

15: By the end of January, $3,500 of the gift cards sold on January 2 have been redeemed (ignore cost of goods sold).

16: Record the entry to close the revenue accounts.

17: Record the entry to close the expense accounts.