Question 5-PROJECT Part 2-Cox Cezto.mheducation.com/ext/map/index.html?_con-con&external_browser=0&launchUrl=https%253A%252F%252Fblackboard.waketech.edu%252Fwebapps%252Fblackboard%252... New Tab THATGIRL CF Modeling Recipes School Home PROJECT Part 2 5 Part 5 of 7 15 points 00:52:03 Saved [The following information applies to the questions displayed below.] On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2022) Common Stock Retained Earnings Totals Debit Credit $ 26,500 49,000 $ 5,600 21,400 60,000 22,000 2,900 29,900 64,800 49,000 27,500 $178,900 $178,900 eBook References During January 2021, the following transactions occur: January 2 Sold gift cards totaling $10,800. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $161,000. January 15 Firework sales for the first half of the month total $149,000. All of these sales are on account. The cost of the units sold is $80,800. January 23 Receive $126,800 from customers on accounts receivable. January 25 Pay $104,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $6,200. January 30 Firework sales for the second half of the month total $157,000. Sales include $15,000 for cash and $142,000 on account. The cost of the units sold is $86,500. January 31 Pay cash for monthly salaries, $53,400. Mc Graw Hill 5. Prepare a classified balance sheet as of January 31, 2021. (Enter the Asset Accounts in order of liquidity. Amounts to be deducted should be indicated with a minus sign.) < Prev 5 6 7 of 7 Next > Help Save & Exit Submit Check my work