Required information [The following information applies to the questions displayed below.] On January 1, Year 1, the general ledger of a company includes the following account balances: Credit Debit $ 26,800 49,600 $ 5,900 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (63, due April 1, Year 2) Common Stock Retained Earnings Totals 21,700 63,000 23,500 3,200 30, 200 67,000 52,000 26,300 $184,600 $184,600 During January Year 1, the following transactions occur. January 2 Sold gift cards totaling $11,400. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $164,000. January 15 The comapany sales for the first half of the month total $152,000. All of these sales are on account. The cost of the units sold is $82,300. January 23 Receive $127,100 from customers on accounts receivable. January 25 Pay $107,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $6,500. January 30 The comapany sales for the second half of the month total $160,000. Sales include $11,000 for cash and $149,000 on account. The cost of the units sold is $88,000. January 31 Pay cash for monthly salaries, $53,700. 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 list Journal entry worksheet 1 2 > Record the closing entry for revenue accounts. Note: Enter debits before credits. General Journal Debit Credit Date January 31 Record entry Clear entry View general journal 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 list Journal entry worksheet Record the closing entry for expense accounts. Note: Enter debits before credits. Date General Journal Debit Credit January 31 Record entry Clear entry View general journal