s On January 1, 2024, the general ledger of Big Blast Fireworks includes the following account balances: Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Accounts Payable Notes Payable (6%, due in 3 years) Common Stock Retained Earnings Totals Debit $24,500 43,000 43,000 81,100 $191,600 Credit $2,900 28,700 43,000 69,000 $191,600 48,000 The $43,000 beginning balance of inventory consists of 430 units, each costing $100. During January 2024, Big Blast Fireworks had the following inventory transactions: January 3 Purchase, 1,150 units for $121,900 on account ($106 each). January 8 Purchase 1,250 units for $138,750 on account ($111 each). January 12 Purchase 1,350 units for $156,600 on account ($116 each). January 15 Return 165 of the units purchased on January 12 because of defects. January 19 Sell 3,900 units on account for $624,000 The cost of the units sold is determined using a FIFO perpetual inventory system. January 22 Receive $573,000 from customers on accounts receivable. January 24 Pay $380,000 to inventory suppliers on accounts payable. January 27 Write off accounts receivable as uncollectible, $2,200. January 31 Pay cash for salaries during January, $132,000. The following information is available on January 31, 2024. a. At the end of January, the company estimates that the remaining units of inventory purchased on January 12 are expected to sell in February for only $100 each. [Hint: Determine the number of units remaining from January 12 after subtracting the units returned on January 15 and the units assumed sold (FIFO) on January 19.] b. The company records an adjusting entry for $3,750. for estimated future uncollectible accounts. c. The company accrues interest on notes payable for January. Interest is expected to be paid each December 31. d. The company accrues income taxes at the end of January of $13,600.

On January 1, 2024, the general ledger of Big Blast Fireworks includes the following account balances: The $43,000 beginning balance of inventory consists of 430 unts, each costing $100. During January 2024, Big Biast Fireworks had the following inventory transactions: January 3 . Purchase: 1,150 units for 5121,909 on ackouht (\$1e6 each). joniary a Purchase 1,250 units for $138, 750 on account ( $111 each). January 12 Purchase 3,350 units for $156,6 ea on account ( $116 each). January 15 Return 165 of the units purchased on January 12 because of defects. January 195011 , 50 e units on eccount for's624, bee The cost of the units sold is deterained using a frro perpetuat inventory systes. Janvary 22 Heceive is7, 090 ifros custosers on accounts receivable. January 24 poy 3300 , ebe to inventery supptiers on acceunts payoble. January 27 Write off sccounts receivable os uecoltectible, $2,200. January 31 pay cash for salarjes during January, 1132 , eee. The following information is avallable on January 31,2024 a. At the end of January, the company estamates that the remaining units of inventory purchased on January 12 are expected to sell in Febeuary for only $100 each. (Hint: Determine the number of units remaining from January 12 after subtracting the units returned on January 15 and the unas assumed sold (fFFO) on January 19.] b. The company records an adjusting entry for $3,750. for estimated future uncollectible accounts. c. The company accrues interest on notes payable for January. Interest is expected to be paid each December 31. d. The company accrues income taxes at the end of January of $13,600