On January 1, 2024, the general ledger of TNT FIreworks Includes the following account balances: During January 2024 , the following transactions occur: January 1 Purchase equipment for $20,200. The company estimates a restdual value of $2,200 and a six-year service 11 fe. January 4 Pay cash on accounts payable, $10,200. January 8 Purchase additional inventory on account, $89,960. January 15 Receive cash on accounts receivable, $22,760. January 19 Pay cash for salaries, $30,500. January 28 Pay cash for January utilities, $17,200. Jonuary 30 Firework sales for January total $227, 000. A11 of these sales are on account. The cost of the units sold is s118, 500. The following information is avallable on January 31,2024. 0. Depreciation on the equipment for the month of January is calculated using the straight-line method. b. The company records an adjusting entry for $3,490 for estimated future uncollectible accounts. c. The company has accrued interest on notes recelvable for January. d. Unpaid salarles owed to employees at the end of January are $33,300. e. The company accrued income taxes at the end of January $9,700. 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 to 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 to 13). 3. Review the adjusted 'Trial Balance' as of January 31, 2024, in the 'Trial Balance' tab. 4. Prepare a multiple-step income statement for the period ended January 31,2024 , in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of January 31, 2024, in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 14 and 15). 7. Using the information from the requirements above, complete the 'Analysis' tab