On January 1, 2024, the general ledger of Freedom Fireworks includes the following account balances: Accounts Debit Credit Cash $ 13,000 Accounts Receivable 37,600 Allowance for Uncollectible Accounts $ 3,600 Inventory 153,800 Land 85,300 Buildings 138,000 Accumulated Depreciation 11,400 Accounts Payable 37,500 Common Stock 218,000 Retained Earnings 157,200 Totals $ 427,700 $ 427,700 During January 2024, the following transactions occur: January 1 Borrow $118,000 from Captive