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

Accounts	Debit	Credit
Cash	$ 102,800
Accounts receivable	37,200
Inventory	153,600
Land	83,300
Buildings	136,000
Allowance for uncollectible accounts		$ 3,400
Accumulated depreciation		11,200
Accounts payable		35,300
Bonds payable		136,000
Discount on bonds payable	31,600
Common stock		216,000
Retained earnings		142,600
Totals	$ 544,500	$ 544,500

During January 2024, the following transactions occurred:

January 1	Borrowed $116,000 from Captive Credit Corporation. The installment note bears interest at 6% annually and matures in 5 years. Payments of $2,242.60 are required at the end of each month for 60 months.
January 1	Called the bonds at the contractual call price of $116,000. The 5% bonds pay interest semiannually each June 30 and December 31.
January 4	Received $32,600 from customers on accounts receivable.
January 10	Paid cash on accounts payable, $27,000.
January 15	Paid cash for salaries, $30,500.
January 30	Firework sales for the month totalled $210,200. Sales included $66,600 for cash and $143,600 on account. The cost of the units sold was $120,500.
January 31	Paid the first monthly installment of $2,243 related to the $116,000 borrowed on January 1.

The following information is available on January 31, 2024.

1. 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 $25,600.
2. At the end of January, $4,600 of accounts receivable are past due, and the company estimates that 50% of these accounts will not be collected. Of the remaining accounts receivable, the company estimates that 2% will not be collected. No accounts were written off as uncollectible in January.
3. Unpaid salaries at the end of January are $27,700.
4. Accrued income taxes at the end of January are $6,600.

1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1-8) assuming a FIFO perpetual inventory system. The transaction on January 30 requires two entries: one to record sales revenue and one to record cost of goods sold. Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances.

2. Record adjusting entries on January 31. in the 'General Journal' tab (these are shown as items 9-12).

3. Prepare the adjusted 'Trial Balance' as of January 31, 2024, in the 'Trial Balance' tab.