Please answer 1-13

On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances: Credit Debit $ 24,700 14,000 $ 1,600 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Supplies Notes Receivable (5%, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Totals 2,900 24,000 77,400 8,600 100,000 32,800 $143,000 $143,000 During January 2021, the following transactions occur: January 2 Provide services to customers for cash, $39,100. January 6 Provide services to customers on account, $ 76,400. January 15 Write off accounts receivable as uncollectible, $1,400. January 20 Pay cash for salaries, $31,800. January 22 Receive cash on accounts receivable, $74,000. January 25 Pay cash on accounts payable, $5,900. January 30 Pay cash for utilities during January, $14,100. The following information is available on January 31, 2021. During January 2021, the following transactions occur: January 2 Provide services to customers for cash, $39,100. January 6 Provide services to customers on account, $76,400. January 15 Write off accounts receivable as uncollectible, $1,400. January 20 Pay cash for salaries, $31,800. January 22 Receive cash on accounts receivable, $ 74,000. January 25 Pay cash on accounts payable, $5,900. January 30 Pay cash for utilities during January, $14,100. The following information is available on January 31, 2021. a. The company estimates future uncollectible accounts. The company determines $5,400 of accounts receivable on January 31 are past due, and 20% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 5% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.) b. Supplies at the end of January total $900. c. Accrued interest revenue on notes receivable for January. Interest is expected to be received each December 31. d. Unpaid salaries at the end of January are $33,900. Requirement Journal Trial Balance Ledger Analysis Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 6 7 8 ..... 13 Provide services to customers for cash, $39,100. Note: Enter debits before credits. General Journal Debit Credit Date Jan 02, 2021 General Ledger Account Cash Debit Accounts Receivable Debit Credit No. Credit No. Date Jan 01, 2021 Balance 24,700 Date Jan 01, 2021 Balance 14,000 Allowance for Uncollectible Accounts Date Debit Credit Jan 01, 2021 Notes Receivable Debit Credit No. No. Balance 1,600 Date Jan 01, 2021 Balance 24,000 Supplies Debit Land Debit No. Credit No. Credit Date Jan 01, 2021 Balance 2,900 Date Jan 01, 2021 Balance 77,400 Accounts Payable Debit Credit Common Stock Debit Credit No. No. Date Jan 01, 2021 Balance 8,600 Date Jan 01, 2021 Balance 100,000 Retained Earnings Debit Credit No. Date Jan 01, 2021 Balance 32,800 you choose will be the values used to populate the income statement and balance sheet tabs. Unadjusted - 3D Family Fireworks Trial Balance January 30, 2021 Account Title Credit Cash Debit 24,700 14,000 1,600 Accounts Receivable Allowance for Uncollectible Accounts Notes Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Total 24,000 2,900 77,400 8,600 100,000 32,800 143,000 143,000 $ Journal Ledger Statement Choose the appropriate accounts to complete the company's income statement. Select 'adjusted' from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance. Unadjusted - 3D Family Fireworks Income Statement For Month Ended January 31, 2021 Revenue: Total Revenue Expenses: Total Expenses 3D Family Fireworks Balance Sheet January 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Total Current Liabilities Total Current Assets Long-term assets: Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities & Stockholders' Equity Total Assets Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Enter your Accounts Receivable turnover value in 1 decimal place and Ratio of Allowance for Uncollectible Accounts in Whole number. Analyze how well 3D Family Fireworks manages its receivables (a) Calculate the receivables turnover ratio for the month of January (Hint: For the numerator, use total services provided to customers on account). If the industry average of the receivables turnover ratios for the month of January is 4.3 times, is the company collecting cash from customers more or less efficiently than other companies in the same industry? Accounts Receivable turnover: times The company is collecting more efficiently. (true or false) (b) Calculate the ratio of Allowance for Uncollectible Accounts to Accounts Receivable at the end of January. Based on a comparison of this ratio to the same ratio at the beginning of January, does the company expect an improvement or worsening in cash collections from customers on credit sales? Ratio of Allowance for Uncollectible Accounts to Accounts Receivable Should the company expect improving or worsening conditions?