Answer Happy

[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 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 Debit $ 26,800 49,600 21,700 63,000 23,500 $184,600 Credit $ 5,900 3,200 30,200 67,000 52,000 26,300 $184,600 During January 2021, the following transactions occur. January 2 Sold gift cards totaling $11,400. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $164,000. January 15 Firework sales for the first half of the month total $152,000. All of these sales are on account. The cost of the units sold is $82,300. January 23 Receive $127,100 from customers on accounts receivable. January 25 Pay $107,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $6,500. January 30 Firework sales for the second half of the month total $160,000. Sales include $11,000 for cash and $149,000- on account. The cost of the units sold is $88,000. January 31 Pay cash for monthly salaries, $53,700. 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.)
Journal entry worksheet < 1 2 3 Note: Enter debits before credits. 4 Date January 02 Deferred Revenue Supplies Expense 5 6 Record sale of gift cards totaling $11,400. The cards are redeemable for merchandise within one year of the purchase date. 7 8 General Journal Debit 775 9 Credit 775 10
Journal entry worksheet 2 Note: Enter debits before credits. Date January 06 3 Record entry 4 Record purchase of additional inventory on account, $164,000. 5 General Journal Bad Debt Expense Allowance for Uncollectible Accounts Clear entry 6 7 8 Debit 18,450 9 Prev Credit 18,450 10 View general journal 1 2 3
Journal entry worksheet < 1 2 Date January 15 3 Note: Enter debits before credits. Record entry 4 5 General Journal 6 Record fireworks sales for the first half of the month totaling $152,000. All of these sales are on account. Clear entr 7 8 9 Debit 10 Credit
Journal entry worksheet 1 2 Date January 15 3 Note: Enter debits before credits. Record entry Record the cost of the units sold is $82,300. 4 5 General Journal Clear entry 6 7 8 Debit 9 10 Credit View general journal
ournal entry worksheet < 2 3 Record entry Note: Enter debits before credits. Date January 23 4 5 m Record receipt of $127,100 from customers on accounts receivable. General Journal Clear entry 6 7 8 Debit Credit 10 View general journal
Journal entry worksheet 1 2 3 Record entry Note: Enter debits before credits. Date January 25 4 5 Record payment of $107,000 to inventory suppliers on accounts payable. General Journal 6 Clear entry 7 co Debit Credit 10 View general journal >
Journal entry worksheet 1 2 Date January 28 3 Note: Enter debits before credits. Record entry 4 5 Record write-off of accounts receivable as uncollectible, $6,500. General Journal Clear entry 6 J 8 Debit 9 Credit 10 View general journal
Journal entry worksheet < 1 2 Date January 30 3 Note: Enter debits before credits. Record entry 4 5 6 Record fireworks sales for the second half of the month totaling $160,000. Sales include $11,000 for cash and $149,000 on account. General Journal Clear entry 7 8 9 10 Debit Credit View general journal
Journal entry worksheet < 1 2 3 Record entry Note: Enter debits before credits. Date January 30 4 Record the cost of the units sold of $88,000. 5 General Journal Clear entry 6 7 8 Debit 9 10 Credit View general journal >
Journal entry worksheet < 1 2 Date January 31 3 Note: Enter debits before credits. Record entry Record payment of cash for monthly salaries, $53,700. 4 5 6 7 8 General Journal Clear entry Debit 9 Credit 10 View general journal