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

Accounts	Debit	Credit
Cash	$60,700
Accounts Receivable	29,000
Allowance for Uncollectible Accounts		$4,200
Inventory	38,300
Notes Receivable (5%, due in 2 years)	36,000
Land	175,000
Accounts Payable		16,800
Common Stock		240,000
Retained Earnings		78,000
Totals	$339,000	$339,000

During January 2024, the following transactions occur:

January 1	Purchase equipment for $21,500. The company estimates a residual value of $3,500 and a five-year service life.
January 4	Pay cash on accounts payable, $11,500.
January 8	Purchase additional inventory on account, $102,900.
January 15	Receive cash on accounts receivable, $24,000.
January 19	Pay cash for salaries, $31,800.
January 28	Pay cash for January utilities, $18,500.
January 30	Firework sales for January total $240,000. All of these sales are on account. The cost of the units sold is $125,000.

Information for adjusting entries:

Depreciation on the equipment for the month of January is calculated using the straight-line method.

The company records an adjusting entry for $3,100 for estimated future uncollectible accounts.

The company has accrued interest on notes receivable for January.

Unpaid salaries owed to employees at the end of January are $34,600.

The company accrued income taxes at the end of January $11,000.