On January 1, 2024, the general ledger of TNT Fireworks included the following account balances: Accounts Cash Debit Credit Accounts Receivable $ 59,900 27,400 Allowance for Uncollectible Accounts Inventory $ 3,400 37,500 Notes Receivable (5%, due in 2 years) 26,400 Land 167,000 Accounts Payable 16,000 232,000 66,800 $ 318,200 $ 318,200 Common Stock Retained Earnings Totals During January 2024, the following transactions occurred: January 1 Purchased equipment for $20,700. The company estimates a residual value of $2,700 and a six-year service life. January 4 Paid cash on accounts payable, $10,700. January 8 Purchased additional inventory on account, $94,900. January 15 Received cash on accounts receivable, $23,200 January 19 Paid cash for salaries, $31,000. January 28 Paid cash for January utilities, $17,700. January 30 Firework sales for January totaled $232,000. All of these sales were on account. The cost of the units sold. was $121,000. The following information is available on January 31, 2024. a. Depreciation on the equipment for the month of January is calculated using the straight-line method. b. The company records an adjusting entry for $5,660 for estimated future uncollectible accounts. c. The company has accrued interest on notes receivable for January. Interest will be received each December 31. d. Unpaid salaries owed to employees at the end of January are $33,800. e. The company accrued income taxes at the end of January of $10,200. Complete this question by entering your answers in the tabs below. General General Income T-In-1---- n-l---- < Prev 1 of 1 A--1-1- Next >