[The following information applies to the questions displayed below. On Jenuary 1,2018, the general ledger of ACME Fireworks includes the following account balances: $ 25,800 Cash 47600 Allowance for Uncollectible Accounts $ 4,900 20,700 53,000 18,500 2.200 Accounts Payable Notes Payable (6%, due April 1,2019) Common Stock Retained Earnings 57,000 42,000 30,300 Totals 165,600 $165,600 During January 2018, the following transactions occur: January 2. Sold gift cards totaling $9,400. The cards are redeemable for merchandise within one year of the purchase date. Purchase additional inventory on account, $154,000 January 15. Firework sales for the first half of the month total $142,000. All of these sales are on account. The cost of the units sold is $77.300o. January 23. Receive $126,100 from customers on accounts receivable January 25. Pay $97,000 to inventory suppliers on accounts payable. January 28. Write off accounts receivable as uncollectible, $5,500. January 30 Firework sales for the second half of the month total $150,000. Sales include $15,000 for cesh and $135,000 on account. The cost of the units sold is $83,000. January 31. Pay cash for monthly salaries, $52,700. Degite alon on t o ra o ano a a suny e taAhme the equigment was purchased, the company 2. The company estimates future uncollect ble accounts. The company determines S 18,000 of accounts receivable on January 31 are past due, and 30% of these accounts uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.) 3. Accrued interest expense on notes payable for January 4. Accrued income taxes at the end of January are $13,700 5. By the end of January, $3,700 of the gift cards sold on January 2 have been redeemed. are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 5% of these accounts are estimated to be 6. Record closing entries. (If no entry is required for a transaction/event, select "No journal entry required" In the first account field.) View transaction list Journal entry worksheet Record the closing entry for expense accounts. Note: Enter debits before credits. Date General Journal Debit Credit January 31,2018 Record entry Clear entry View general journal