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

Accounts	Debit	Credit
Cash	$ 12,100
Accounts Receivable	35,800
Allowance for Uncollectible Accounts		$ 2,700
Inventory	152,900
Land	76,300
Buildings	129,000
Accumulated Depreciation		10,500
Accounts Payable		27,600
Common Stock		209,000
Retained Earnings		156,300
Totals	$ 406,100	$ 406,100

During January 2024, the following transactions occur:

January 1	Borrow $109,000 from Captive Credit Corporation. The installment note bears interest at 6% annually and matures in 5 years. Payments of $2,107 are required at the end of each month for 60 months.
January 4	Receive $31,900 from customers on accounts receivable.
January 10	Pay cash on accounts payable, $20,000.
January 15	Pay cash for salaries, $29,800.
January 30	Firework sales for the month total $200,400. The cost of the units sold is $117,000.
January 31	Pay the first monthly installment of $2,107 related to the $109,000 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 $26,400.
2. The company estimates additional future uncollectible accounts of $3,285.
3. Unpaid salaries at the end of January are $27,000.
4. Accrued income taxes at the end of January are $8,900.
5. 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 $19,368.

2. Calculate the adjusting entries on January 31 for the above transactions

Journal entry worksheet 45 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 $26,400. Record the adjusting journal entry for depreciation for the month. Note: Enter debits before credits