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Required information [The following information applies to the questions displayed below.] On January 1, 2024, the general ledger of ACME Fireworks includes the following account

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Required information [The following information applies to the questions displayed below.] On January 1, 2024, the general ledger of ACME Fireworks includes the following account balances: During January 2024, the following transactions occur: January 2 sold gitt cards totaling $12,000. The cards are redeemable for merehandise Within one year of the purchase date. January 6 purchase additional inventory on account, $167,000. ACcre uses the perpetual inventory syoteen. January 15 Firework sales for the tirst half of the month total 5155,000 . All of these nales are on account. The cost of the units sold in $83,800. January 23 Receive $127,400 from customern on accounts receivable. Janaary 25 Pay $110,000 to inyentory suppliern on accounts payable. January 28 Krite oft accounte recelvable an uncollectible, $6,800. January 30 Firework salen for the mecond balt of the nonth total $163,000, 5 ales include $17, 000 tor canh and 3146,000 on account. The cost of the units sold is $89,500. January 31 Pay cash for nonthly salarles, 554,000 . 4. Prepare a multiple-step income statement for the period onded January 31, 2024. 4. Prepare a multiple-step income statement for the period ended January 31, 2024. Journal entry worksheet Record the closing entry for revenue accounts. Note: Enter debits before credits. Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits

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