The company had the following transactions during January 2021. When recording these transactions, use the item number listed instead of the date. The company records adjusting entries on a monthly basis.

1. Paid off accounts payable of $58,850.
2. Purchased inventory costing $28,890 on credit.
3. Sold inventory that cost $32,100 on credit for $109,140. However, $2,140 of the amount sold is expected to be refunded due to returns and the cost of the inventory expected to be returned is $856.
4. Collected accounts receivable amounting to $116,630.
5. Wrote off $5,350 of uncollectible accounts receivable.
6. Received inventory returns from customers and reduced accounts receivable from these customers for $2,996. The inventory that these customers returned was in excellent condition and had a cost of $963.
7. Paid all salary-related liabilities outstanding at the beginning of January.
8. Paid salaries to employees, who earned a total of $42,800 of gross pay less employee income tax, CPP, and EI of $7,704, $2,183, and $693, respectively. Withholdings will be remitted in February.
9. Recorded employee benefits expense relating to the employer’s share of CPP of $2,183 and EI of $970.
10. Paid rent of $9,630.
11. Paid dividends owing on payment date at the beginning of the month.
12. Expired $1,070 of prepaid insurance.
13. Paid monthly interest on the 4%, $128,400 note payable.
14. Sold equipment at the end of January for $14,980 cash. The equipment had a cost of $21,400 and a carrying amount of $12,840.
15. Purchased new equipment at the end of the month costing $10,700 by issuing common shares.
16. Incurred depreciation on equipment on a straight-line basis. The equipment has a useful life of six years and no residual value.
17. Estimated at the end of January that $4,494 of accounts receivable was uncollectible.
18. Estimated that income tax incurred in January amounted to $4,280. This amount will be paid next month.

Record the journal entries for the events listed above. if no entery is required write No Entry for the account title. (please do it correctly)