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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

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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 $21,000. The company estimates a residual value of $3,000 and a $1x-year service life. January 4 Pay cash on accounts payabte, $11,000. . January 8 Purchase additionat inventory on account, $97,900. January is Receive cash on accounts receivable, $23,580. January 19 Pay cash for salaries, $31,380. January 28 Pay cash for January utilities, $18,000. January 30 Firework sales for January total $235,000. All of these sales are on account. The cost of the units sold is $122,500. Information for adjusting entries: 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 $3,250 for estimated future uncollectible accounts. c. The company has accrued interest on notes recelvable for January. d. Unpaid salaries owed to employees ot the end of January are $34,100. e. The company accrued income taxes at the end of January $10,500. Required: 1. Record each of the transactions listed above. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

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