[The following information applies to the questions displayed below.]

On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances:

Accounts	Debit				Credit
Cash	$	27,100
Accounts Receivable		50,200
Allowance for Uncollectible Accounts					$	6,200
Inventory		22,000
Land		66,000
Equipment		25,000
Accumulated Depreciation						3,500
Accounts Payable						30,500
Notes Payable (6%, due April 1, 2022)						70,000
Common Stock						55,000
Retained Earnings						25,100
Totals	$	190,300			$	190,300

During January 2021, the following transactions occur:

January		2		Sold gift cards totaling $12,000. The cards are redeemable for merchandise within one year of the purchase date.
January		6		Purchase additional inventory on account, $167,000.
January		15		Firework sales for the first half of the month total $155,000. All of these sales are on account. The cost of the units sold is $83,800.
January		23		Receive $127,400 from customers on accounts receivable.
January		25		Pay $110,000 to inventory suppliers on accounts payable.
January		28		Write off accounts receivable as uncollectible, $6,800.
January		30		Firework sales for the second half of the month total $163,000. Sales include $17,000 for cash and $146,000 on account. The cost of the units sold is $89,500.
January		31		Pay cash for monthly salaries, $54,000.

3. Prepare an adjusted trial balance as of January 31, 2021.

ACME Fireworks
Adjusted Trial Balance
January 31, 2021
Accounts	Debit	Credit
Cash
Accounts Receivable
Allowance for Uncollectible Accounts
Inventory
Land
Equipment
Accumulated Depreciation
Accounts Payable
Notes Payable
Common Stock
Retained Earnings
Sales Revenue
Deferred Revenue
Cost of Goods Sold
Salaries Expense
Totals