Required information [The following information applies to the questions displayed below.] On January 1, 2024, the general ledger of Freedom Fireworks includes the following account balances: During January 2024, the following transactions occur: January 1 borrow $112,000 from Captive credit Corporation. The inatalinent note bears interent at 6t annualiy and naturea in 5 years. Paynente of $2,165 are required at the end of each month for 60 monthn. January 4 Receive $32,200 from customera on accounts receivable. January 10 Pay caah on aecounts payable, $23,000. January 15 Pay cash for Balaries, $30,100, January 30 Firework nales for the nonch total $201,000. The cost of the units sold is 5118,500 . January 31 Pay the firat monthly inetallment of $2,165 related to the $112,000 borrosed on January 1 . 6. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. 6. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits