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The first question related to the others, its a 5 part question. The following information applies to the questions displayed below. On January 1, 2018,

image text in transcribedThe first question related to the others, its a 5 part question.
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The following information applies to the questions displayed below. On January 1, 2018, the general ledger of Freedom Fireworks includes the ollowing account balances: owance or Uncollectible Accounts 3800 Retained Eain Totals uring January 2018, the following transactions occur January 1 Borrow $120,000 from Captive Credit Corporation. The installment note ears interest at 5% annually and matures in 5 years. Payments of $2.180 are equired at the end of each month for 60 months January 4 Receive $33,000 from customers on accounts receivable. January 10 Pay cash on accounts payable, $31,000 January 15 Pay cash for salaries, $30,900 January 30 Firework sales for the month total $206,000. Sales include $67,000 for cash and $139,000 on account. The cost of the units sold is $122,500. January 31 Pay the first monthly installment of $2,180 related to the $120,000 orrowed on January 1. Round your interest calculation to the nearest dollar. Record each of the transactions listed above. (If no entry is required for a ransaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Borrow $120,000 from Captive Credit Corporation The instaliment note bears interest t 5% omaally and mature", 5 years n"ments of $2.180 required at the end of each month for 60 months

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