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On January 1, 2018, the general ledger of ACME Fireworksincludes the following account balances: AccountsDebitCredit Cash$25,100 AccountsReceivable46,200 Allowance forUncollectible Accounts$4,200 Inventory20,000 Land46,000 Equipment15,000 AccumulatedDepreciation1,500 AccountsPayable28,500 Notes Payable (6%,due April 1, 2019)50,000 Common Stock35,000 RetainedEarnings33,100 Totals$152,300$152,300 During January 2018, the following transactions occur:January 2. Sold gift cards totaling $8,000. The cards areredeemable for merchandise within one year of the purchasedate.January 6. Purchase additional inventory on account,$147,000.January 15. Firework sales for the first half of the month total$135,000. All of these sales are on account. The cost of the unitssold is $73,800.January 23. Receive $125,400 from customers on accountsreceivable.January 25. Pay $90,000 to inventory suppliers on accountspayable.January 28. Write off accounts receivable as uncollectible,$4,800.January 30. Firework sales for the second half of the month total$143,000. Sales include $11,000 for cash and $132,000 on account.The cost of the units sold is $79,500.5. Prepare a classified balance sheet as ofJanuary 31, 2018.6. Record closing entries.