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

Accounts	Debit	Credit
Cash	$ 11,200
Accounts Receivable	34,000
Allowance for Uncollectible Accounts		$ 1,800
Inventory	152,000
Land	67,300
Buildings	120,000
Accumulated Depreciation		9,600
Accounts Payable		17,700
Common Stock		200,000
Retained Earnings		155,400
Totals	$ 384,500	$ 384,500

During January 2024, the following transactions occur:

January 1	Borrow $100,000 from Captive Credit Corporation. The installment note bears interest at 7% annually and matures in 5 years. Payments of $1,980 are required at the end of each month for 60 months.
January 4	Receive $31,000 from customers on accounts receivable.
January 10	Pay cash on accounts payable, $11,000.
January 15	Pay cash for salaries, $28,900.
January 30	Firework sales for the month total $195,000. The cost of the units sold is $112,500.
January 31	Pay the first monthly installment of $1,980 related to the $100,000 borrowed on January 1.

The following information is available on January 31, 2024.

Depreciation on the building for the month of January is calculated using the straight-line method. At the time the building was purchased, the company estimated a service life of 10 years and a residual value of $24,000.

The company estimates additional future uncollectible accounts of $2,300.

Unpaid salaries at the end of January are $26,100.

Accrued income taxes at the end of January are $8,000.

The portion of Notes Payable (long-term) due within the next 12 months is reclassified as Notes Payable (current). The amount of the reclassification is $17,411.