[The following information applies to the questions displayed below.] On January 1, 2024, the general ledger of ACME Flreworks includes the following account balances: During January 2024, the following transactions occur: January 2 Sold gift cards totaling 512,099 . The cards are redecmable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $167,000. ACME uses the perpetuat inventory system. January is Firework sales for the first half of the month total $155,600. All of these sales are on account. The cost of the units sold is $83,800. January 23 Receive $127,400 from custoners on accounts receivable. January 25 Pay $110,600 to inventory suppliers on accounts payabte. January 28 Write off accounts recelvable as uncollectible, $5,800. January 30 Firework sales for the second half of the month total $163,000. Sales include $17, eae for cash and $146,000 on account. The cost of the units sold is $89,500. January 31 Pay cash for monthly salories, $54,000. (1) Required information