Required Information The following information applies to the questions displayed below. On January 1, 2021, the…

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: Accounts Credit Debit $ 26, see 49, ese $ 5,600 21,420 be, se 22,00 Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2822) Common Stock Retained Earnings Totals 2,920 29,90 27, see $178,928 $178,920 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $10,see. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $161, eee. January 15 Firework sales for the first half of the month total $149, eee. All of these sales are on account. The cost of the units sold is $80, 82e. January 23 Receive $126,from customers on accounts receivable. January 25 Pay $104,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $6,200. January 38 Firework sales for the second half of the month total $157,202. Sales include $15,000 for cash and $142,892 on account. The cost of the units sold is $86,5ee. January 31 Pay cash for monthly salaries, $53,400. Record each of the transactions listed above. (If no entry is required for a particular transaction/event, select “No Journal Entry Fequired” In the first account field.) View transaction ist Journal entry worksheet 2 3 4 5 6 7 8 9 10 Record sale of gift cards totaling $10,800. The cards are redeemable for merchandise within one year of the purchase date. Note: Enter debits before credits Date General Journal Debit Credit January 02 Record entry Clear entry View general Journal

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