Please help
On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances Accounts Debit Credit Cash $ 25,280 Accounts Receivable 46,400 Allowance for Uncollectible Accounts $ 4.100 Inventory 20, 109 Land 47,000 Equipment 16,009 Accumulated Depreciation 1,100 Accounts Payable 28,600 Notes Payable (6%, due April 1, 2022) 51,000 Common Stock 36,000 Retained Earnings Totals $154,700 $154,700 During January 2021, the following transactions occur January 2 Sold gift cards totaling $8, 200. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $148,000. January 15 Firework sales for the first half of the month total $136,000. All of these sales are on account. The cost of the units sold is $74,309. January 23 Receive $135, 500 from customers on accounts recel ibble. January 25 Pay $91,000 to inventory suppliers on accounts payable. January 20 Write off accounts receivable as uncollectible, 14,900. January 30 Firework sales for the second half of the month total $144,000. Sales include $10,090 for cash and $134,009 on account. The cost of the units sold is $8o,090. January 31 Pay cash for monthly salaries, $52, 100.Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a residual value of $3,400 and a two-year service life. . The company estimates future uncollectible accounts. The company determines $12.000 of accounts receivable on January 31 are past due, and 30% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 4% of these accounts are estimated to be uncollectible (Hint: Use the January 31 accounts receivable balance calculated in the general ledger) Accrued interest expense on notes payable for January. Accrued income taxes at the end of January are $13,100 . By the end of January, $3100 of the gift cards sold on January 2 have been redeemed. 2. Record the adjusting entries on January 31 for the above 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 5 Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a residual value of $3,400 and a two-year service life. Record the depreciation for the month of January. Note: Enter debits before credits. Data General Journal Debit Credit January 31
