On January 1, 2024, the general ledger of ACME Fireworks includes the following account balances: Accounts Debit Credit Cash $25,300 Accounts Receivable 46,600 Allowance for Uncollectible Accounts $4,400 Inventory 20,200 Land 48,000 Equipment 16,500 Accumulated Depreciation 1,700 Accounts Payable 28,700 Notes Payable (6%, due April 1, 2025) 52,000 Common Stock 37,000 Retained Earnings 32,800 Totals $156,600 $156,600 During January 2024, the following transactions occur: January 2 Sold gift cards totaling $8,400. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $149,000. ACME uses the perpetual inventory system. January 15 Firework sales for the first half of the month total $137,000. All of these sales are on account. The cost of the units sold is $74,800. January 23 Receive $125,600 from customers on accounts receivable. January 25 Pay $92,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $5,000. January 30 Firework sales for the second half of the month total $145,000. Sales include $15,000 for cash and $130,000 on account. The cost of the units sold is $80,500. January 31 Pay cash for monthly salaries, $52,200. The following information is available on January 31. 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 $4,500 and a two-year service life. The company records an adjusting entry for $11,300 for estimated future uncollectible accounts. The company has accrued interest on notes payable for January. The company has accrued income taxes at the end of January of $13,200. By the end of January, $3,200 of the gift cards sold on January 2 have been redeemed (ignore cost of goods sold).