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Required information The following information applies to the questions displayed below] On January 1, 2021, the general ledger of ACME Fireworks includes the following
Required information 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 Shock Betained Earnings Totals Debit Credit $27,100 50,200 56.200 22,000. 66,000 25,000 3,500 30,500 10,000 55,000 25,100 $190,300 $190,300 During January 2021, the following transactions occur January 2 Bold gift cards totaling $12,000. The cards are redeemable for merchandise within one year of the purchase date. January Purchase additional inventory on account, $167,000. January 15 Pirework sales for the first half of the month total $155,000. All of these sales are on account. The ones of the unite sold in 3,800. January 23 Receive $127,400 from customers on accounts receivable. January 25 Pay $110,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $6,800. January 30 Firework sales for the second half of the month total $1623.000. sales include $17,000 for cash and $144,000 account. The cost of the units sold January 11 Pay cash for monthly salarias, 354,000. 149,50 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.) Assets ACME FIREWORKS Classified Balance Sheet January 31, 2021 Liabilities
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