Question: Hello, I need some help with these questions on this accounting assignment. Please show work! Thank you! Required information Exercise 8-19 (Algo) Complete the accounting

Hello, I need some help with these questions on this accounting assignment. Please show work! Thank you!

Hello, I need some help with these questions on this accounting assignment.Please show work! Thank you! Required information Exercise 8-19 (Algo) Complete theaccounting cycle (LO8-1, 8-2, 8-4, 8-6) [The following information applies to thequestions displayed below.] On January 1, 2024, the general ledger of ACMEFireworks includes the following account balances: During January 2024 , the followingtransactions occur: January 2 Sold gift cards totaling $10,600. The cards are

Required information Exercise 8-19 (Algo) Complete the accounting cycle (LO8-1, 8-2, 8-4, 8-6) [The following information applies to the questions displayed below.] On January 1, 2024, the general ledger of ACME Fireworks includes the following account balances: During January 2024 , the following transactions occur: January 2 Sold gift cards totaling $10,600. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $160,000. ACME uses the perpetual inventory system. January 15 Firework sales for the first half of the month total $148,000. All of these sales are on account. The cost of the units sold is $80,300. January 23 Receive $126,700 from customers on accounts receivable. January 25 Pay $103,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $6,100. January 30 Firework sales for the second half of the month total $156,000. Sales include $15,000 for cash and $141,000 on account. The cost of the units sold is $86,000. January 31 Pay cash for monthly salaries, $53,300. - Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a residual value of $4,700 and a two-year service life. - The company records an adjusting entry for $16,850 for estimated future uncollectible accounts. - The company has accrued interest on notes payable for January. - The company has accrued income taxes at the end of January of $14,300. - By the end of January, $4,300 of the gift cards sold on January 2 have been redeemed (ignore cost of goods sold). 2. Record the adjusting entries on January 31 for the above transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet The company records an adjusting entry for $16,850 for estimated future uncollectible accounts. Note: Enter debits before credits. Journal entry worksheet The company has accrued interest on notes payable for January. Note: Enter debits before credits. Journal entry worksheet The company has accrued income taxes at the end of January of $14,300. Note: Enter debits before credits. Journal entry worksheet By the end of January, $4,300 of the gift cards sold on January 2 have been redeemed (ignore cost of goods sold). Note: Enter debits before credits

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