Extracted text: 1. Record each of the transactions listed above. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) :***: View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 January 02 Cash 9,600 Deferred Revenue 9,600 January 06 Inventory 155,000 Accounts Payable 155,000 3 January 15 Accounts Receivable 143,000 143,000 4 January 15 Cost of Goods Sold 77,800 Inventory 77,800 5 January 23 Cash 126,200 Accounts Receivable 126,200 6 January 25 Accounts Payable 98,000 Cash 98,000 7 January 28 Allowance for Uncollectible Accounts 5,600 Accounts Receivable 5,600 Ionuan 30 ICoch 1A 000
![Required information<br>[The following information applies to the questions displayed below.]<br>On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances:<br>Debit<br>$ 25,900<br>47,800<br>Accounts<br>Credit<br>Cash<br>Accounts Receivable<br>Allowance for Uncollectible Accounts<br>$ 5,000<br>Inventory<br>iven<br>Land<br>20,800<br>54,000<br>19,000<br>Equipment<br>Accumulated Depreciation<br>Accounts Payable<br>Notes Payable (6%, due April 1, 2022)<br>2,300<br>29,300<br>58,000<br>43,000<br>Common Stock<br>Retained Earnings<br>29,900<br>Totals<br>$167,500<br>$167,500<br>During January 2021, the following transactions occur:<br>January<br>2 Sold gift cards totaling $9,600. The cards are redeemable for merchandise within one year of the<br>purchase date.<br>6 Purchase additional inventory on account, $155,000.<br>January<br>January 15 Firework sales for the first half of the month total $143,000. All of these sales are on account.<br>The cost of the units sold is $77,800.<br>January 23 Receive $126,200 from customers on accounts receivable.<br>January 25 Pay $98,000 to inventory suppliers on accounts payable.<br>January 28 Write off accounts receivable as uncollectible, $5,600.<br>January 30 Firework sales for the second half of the month total $151,000. Sales include $14,000 for cash and<br>$137,000 on account. The cost of the units sold is $83,500.<br>January 31 Pay cash for monthly salaries, $52,800.<br>](https://s3.us-east-1.amazonaws.com/storage.unifolks.com/qimg-008/008_ut7tzz0-qaw0cqch.png)
Extracted text: 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: Debit $ 25,900 47,800 Accounts Credit Cash Accounts Receivable Allowance for Uncollectible Accounts $ 5,000 Inventory iven Land 20,800 54,000 19,000 Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2022) 2,300 29,300 58,000 43,000 Common Stock Retained Earnings 29,900 Totals $167,500 $167,500 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $9,600. The cards are redeemable for merchandise within one year of the purchase date. 6 Purchase additional inventory on account, $155,000. January January 15 Firework sales for the first half of the month total $143,000. All of these sales are on account. The cost of the units sold is $77,800. January 23 Receive $126,200 from customers on accounts receivable. January 25 Pay $98,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $5,600. January 30 Firework sales for the second half of the month total $151,000. Sales include $14,000 for cash and $137,000 on account. The cost of the units sold is $83,500. January 31 Pay cash for monthly salaries, $52,800.