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 $109,000 from Captive Credit Corporation. The installment note bears interest at 6% annually and matures in 5 years. Payments of $2,107 are required at the end of each month for 60 months. January 4 Receive $31,900 from customers on accounts receivable. January 10 Pay cash on accounts payable, $20,000. January 15 Pay cash for salaries, $29,800. January 30 Firework sales for the month total $200,400. The cost of the units sold is $117,000. January 31 Pay the first monthly installment of $2,107 related to the $109,000 borrowed on January 1 . he following information is available on January 31,2024. Depreciation on the building for the month of January is calculated using the straight-line method. At the time the building was purchased, the company estimated a service life of 10 years and a residual value of $26,400. The company estimates additional future uncollectible accounts of $3,285. Unpaid salaries at the end of January are $27,000. Accrued income taxes at the end of January are $8,900. The portion of Notes Payable (long-term) due within the next 12 months is reclassified as Notes Payable (current). The amount of the reclassification is $19,368. Record the adjusting entries on January 31 for the above transactions. (If no entry is required for a particular transaction/event, elect "No Journal Entry Required" in the first account field.) Journal entry worksheet 5 3 5 Depreciation on the building for the month of January is calculated using the straight-line method. At the time the building was purchased, the company estimated a service life of 10 years and a residual value of $26,400. Record the adjusting journal entry for depreciation for the month