[The following information applies to the questions displayed below.) On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Credit Debit $ 25,600 47,200 $ 4,700 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2022) Common Stock Retained Earnings Totals 20,500 51,000 17,500 2,000 29,000 55,000 40,000 31,100 $161,800 $ 161,800 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $9,000. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $152,000. January 15 Firework sales for the first half of the month total $140,000. All of these sales are on account. The cost of the units sold is $ 76,300. January 23 Receive $125,900 from customers on accounts receivable. January 25 Pay $95,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $5,300. January 30 Firework sales for the second half of the month total $148,000. Sales include $10,000 for cash and $ 138,000 on account. The cost of the units sold is $82,000. January 31 Pay cash for monthly salaries, $52,500. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a residual value of $3,700 and a two-year service life. The company estimates future uncollectible accounts. The company determines $16,000 of accounts receivable on January 31 are past due, and 30% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 4% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.) Accrued interest expense on notes payable for January. Accrued income taxes at the end of January are $13,500. By the end of January, $3,500 of the gift cards sold on January 2 have been redeemed. 2. Record the adjusting entries on January 31 for the above transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) select "No Journal Entry Required" in the first account field.) Answer is not complete. No Date Debit Credit January 31 General Journal Depreciation Expense Accumulated Depreciation 575 575 January 31 Bad Debt Expense 10.740 X Allowance for Uncollectible Accounts 10,740 3 January 31 Interest Expense Interest Payable January 31 13,500 Income Tax Expense Income Tax Payable 13,500 5 January 31 Deferred Revenue 3,500 Sales Revenue 3,500