Answer all of them please

Required information Exercise 6-21B Complete the accounting cycle using inventory transactions (L06-2, 6-3, 6-5, 6-6, 6-7) [The following information applies to the questions displayed below.] On January 1, Year 1, the general ledger of a company includes the following account balances: Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Accounts Payable Notes Payable (12%, due in 3 years) Common Stock Retained Earnings Totals Debit Credit $ 22,900 39,000 $ 4,100 35,000 69,100 29,900 35,000 61,000 36,000 $160,000 $166,000 The $35,000 beginning balance of inventory consists of 350 units, each costing $100. During January Year 1, the company had the following inventory transactions: January 3 Purchase 1,400 units for $154,000 on account ($110 each). January 8 Purchase 1,500 units for $172,500 on account ($115 each). January 12 Purchase 1,600 units for $192,000 on account ($120 each). January 15 Return 125 of the units purchased on January 12 because of defects. January 19 Sell 4,600 units on account for $690,000. The cost of the units sold is determined using a FIFO perpetual inventory system. January 22 Receive $ 665,000 from customers on accounts receivable. January 24 Pay $495,000 to inventory suppliers on accounts payable. January 27 Write off accounts receivable as uncollectible, $3,000. January 31 Pay cash for salaries during January, $119,000. The following information is available on January 31, Year 1. a. At the end of January, the company estimates that the remaining units of inventory are expected to sell in February for only $100 each. b. The company estimates future uncollectible accounts. The company determines $4,500 of accounts receivable on January 31 are past due, and 40% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 4% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.) c. Accrued interest expense on notes payable for January. Interest is expected to be paid each December 31. d. Accrued income taxes at the end of January are $12,800. Required: 1. Record each of the transactions listed above, assuming a FIFO perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record purchase of 1,400 units for $154,000 on account ($110 each). Note: Enter debits before credits. Credit Date General Journal January 03 Inventory Accounts payable Debit 154,000 154,000 Record entry Clear entry View general journal a. At the end of January, the company estimates that the remaining units of inventory are expected to sell in February for only $100 each. b. The company estimates future uncollectible accounts. The company determines $4,500 of accounts receivable on January 31 are past due, and 40% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 4% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.) c. Accrued interest expense on notes payable for January. Interest is expected to be paid each December 31. d. Accrued income taxes at the end of January are $12,800. 2. Record adjusting entries on January 31 for the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 At the end of January, the company estimates that the remaining units of inventory are expected to sell in February for only $100 each. Record the adjustment for net realizable value. Note: Enter debits before credits. Date General Journal Debit Credit January 31 Costs of goods sold Inventory Record entry Clear entry View general journal 3. Prepare an adjusted trial balance as of January 31, Year 1. Debit Credit Adjusted Trial Balance January 31, Year 1 Accounts Cash Accounts receivable Allowance for uncollectible accounts Inventory Land i Accounts payable Interest payable Income tax payable Notes payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Bad debt expense Interest expense Income tax expense Totals 0 $ 4. Prepare a multiple-step income statement for the period ended January 31, Year 1. Multiple-step Income Statement For the year ended January 31, Year 1 Sales revenue Cost of goods sold Gross profit Salaries expense Bad debt expense Total operating expenses Operating income (loss) Interest expense Income before taxes Income tax expense 5. Prepare a classified balance sheet as of January 31, Year 1. (Amounts to be deducted should be indicated with a minus sign.) Classified Balance Sheet January 31, Year 1 Assets Liabilities | Total current assets L 0 Total current liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total assets Total liabilities and stockholders' equity 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 Journal entry worksheet