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: During January 2021, the following transactions occur: January 2 Sold gift carda totaling $10,200. The carda are redecmable for morehandiae within obe year of the purchase date. January 6 Purehase additional inventory on aceount, 5158,000. January 15 Firework saleb for the firat balf of the fonth total $146,000+ Ald of thene onlea are on account. The cost of the unita pold it 579,300 . January 23 Reoeive 5126,500 from customers on aceounta receivable. January 25 Pay 5101,000 to invontory muppliera on accounta payable. January 28 Krite of ececunte recelvable as unoollectible, $5,900. January jo Firework aalea for the aecond half of the month tokal $154,000, galea fneludo 517, 000 for eash and 5137,000 on acbount. The cont of the unitm sodd io 505,000 . January 31 Pay cath for fonthly talarted, $53,100. 5. Record closing entries: (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account leld.) damuary io ray tamin lut mutactiy wainc bew, pas, tyu. 5. Record closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account ield.) Journal entry worksheet 2 Record the closing entry for reverue accounts Notei friter cebits before credis