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: Credit Debit $ 26,700 49,400 $ 5,90 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2822) Common Stock Retained Earnings Totals 21,600 62.000 23,220 3.100 30.100 66,202 51,00 26,700 $182,780 $182,720 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $11,200. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $163,220. January 15 Firework sales for the first half of the month total $151,200. All of these sales are on account. The cost of the units sold is $81,800. January 23 Receive $127,ese from customers on accounts receivable. January 25 Pay $105,62e to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $6,400. January 38 Firework sales for the second half of the month total $159,209. Sales include $13,ese for cash and $146,020 on account. The cost of the units sold is $87,500. January 31 Pay cash for monthly salaries, $53,62e. 6. Record closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction at Journal entry worksheet