Requlred Information [The following informotion opplies to the questions disployed below.] On Jonuary 1, 2024, the general ledger of Freedom Fireworks includes the following account bolances: During Jenuary 2024, the following transactions occur. matures in 5 years. Payments of $2,223 are required at the end of each nonth for 6 nonths. January 4 Receive \$32, 5ea fron custoners on accounts receivable. January 19 Pay cash on accounts payable, $26, Rea. January 15 Pay cash for salarics, $30,480. January 30 Fircwork sales for the month total \$21e, eee. The cost of the units sold is $120, eae. January 31 Pay the first monthly installment of $2,223 related to the $115, eeg borrowed on January 1. Required: 1. Record esch of the tronsactions listed above. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account field. Do not round Intermedlate calculations.) Journal entry worksheet 234567 Borrow $115,000 from Captive Credit Corporation. The installment note bears interest at 6% annually and matures in 5 years. Payments of $2,223 are required at the end of each month for 60 months. Record the issuance of the long-term note payable. Required Information [The following informotion opplies to the questions disployed below.] On Jonuary 1, 2024, the general ledger of Freedom Fireworks includes the following occount bolances: During Jenuary 2024, the following trensactions occur. January 1 Borrow \$115, eea fron Captive Credit Corporation. The installnent note bears interest at 6K annually and natures in 5 years. Payments of $2,223 are required at the end of each nonth for 6 nonths. January 4 Receive $32,5eg fron custoners on accounts receivable. January 10 Pay cash on accounts payable, $26, January 15 Pay cash for salarics, $30,4e. January 30 Fircwork sales for the month total \$210, eee. The cost of the units sold is $120, ege. January 31 Pay the first monthly installment of $2,223 related to the $115, eeg borrowed on January 1 . The following information is available on Jonuary 31,2024 . . Depreciation on the building for the month of January is colculated using the straight-line method. At the time the building was purchased, the company estimated service life of 10 years and a residual value of $27,000. b. The company estimates odditional future uncollectible accounts of $3,255. c. Unpaid salaries at the end of January are $27,600. d. Accrued income toxes at the end of January are $9,500. e. The portion of Notes Payoble (long-term) due within the next 12 months is reclassified as Notes Paysble (current). The amount of the reclassificstion is $20,434. 2. Record the odjusting entries on Jonuary 31 for the obove tronsactions. (If no entry Is required for a particular transactlon/event, select "No Journal Entry Required" In the first account field.) Journal entry worksheet Required Information [The following informotion opplies to the questions disployed below.] On Jonuary 1, 2024, the general ledger of Freedom Fireworks includes the following sccount bolances: During Jenusry 2024, the following trensactions occur: January 1 Borrow \$115, eee fron Captive Credit Corporation. The installnent nate bears interest at 6\% annually and natures in 5 years. Payments of $2,223 are required at the end of each nonth for 6 e nanths. January 4 Receive $32,5e fron custoners on accounts receivable. January 1e Pay cash on accounts payable, \$26, eea. January 15 Pay cash for salarics, \$3e,4ee. January 30 Firework sales for the month total \$21e, eee. The cost of the units sold is \$12e, eae. January 31 Pay the first monthly installment of $2,223 related to the $115, eee borrowed on January 1 . 3. Prepore an ocjusted trial balonce as of Jonuary 31,2024 , sfter updating beginning balonces (above) for tronsactions during Jonuary (requirement 1) and odjusting entries at the end of Jonusry (requirement 2). (Do not round Intermedlate calculations.)