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10 Required information {The following information applies to the questions displayed below.) On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Part 6 of 7 Credit 769 points Debit $ 26,200 48,400 $ 5,300 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 21,100 57.000 20,500 eBook 2,600 29,600 61,000 46,000 28,700 $173,200 Print $173,200 References During January 2021, the following transactions occur January 2 Sold gift cards totaling $10,200. The cards are redeemable for merchandise within one year ot the purchase date. January 6 Purchase additional inventory on account, $158,000. January 15 Firework sale for the first halt of the nonth total $146,000. All of these sales are on account. The cost of the units sold is $79,300. January 23 Receive $126,500 from customers on accounts receivable. January 25 Pay $101,000 to inventory suppliers on accounts payable. January 28 Write oft accounts receivable as uncollectible, $5.900. January 30 Pirework sales for the second half of the month total $154,000. Sales include $17,000 for cash and $137,000 on account. The cost of the units sold is $85,000. January 31 Pay cash for monthly salaries, $53,100. 6. Record closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 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 View journal entry worksheet No General Journal Credit Date January 31, 2021 Sales Revenue Rotained Earnings Debit 300,000 1 300,000 2. 79,300 53,100 January 31, 2021 Retained Earnings Cost of Goods Sold Salaries Expense Bad Debt Expense Depreciation Expense Interest Expense Income Tax Expense

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