$On$ January $1,2024,$ the general ledger $of$ Freedom Fireworks includes the following account balances:$\frac{?}{b}$

egin$\{tabular\}\{|c|c|c|\}\frac{?}{h}$

line Accounts & Debit & Credit$\frac{\frac{?}{?}}{?}$

$\frac{?}{\text{h}\text{l}\text{i}\text{n}\text{e}}$ Cash & $\frac{?}{?}$$ $101,200$ &$\frac{\frac{?}{?}}{?}$

$\frac{?}{\text{h}\text{l}\text{i}\text{n}\text{e}}$ Accounts receivable & $34,000$ &$\frac{\frac{?}{?}}{?}$

$\frac{?}{\text{h}\text{l}\text{i}\text{n}\text{e}}$ Inventory & $152,000$ &$\frac{\frac{?}{?}}{?}$

$\frac{?}{\text{h}\text{l}\text{i}\text{n}\text{e}}$ Land & $67,300$ &$\frac{\frac{?}{?}}{?}$

$\frac{?}{\text{h}\text{l}\text{i}\text{n}\text{e}}$ Buildings & $120,000$ &$\frac{\frac{?}{?}}{?}$

$\frac{?}{\text{h}\text{l}\text{i}\text{n}\text{e}}$ Allowance for uncollectible accounts & & $\frac{?}{?}$$ $1,800\frac{\frac{?}{?}}{?}$

$\frac{?}{\text{h}\text{l}\text{i}\text{n}\text{e}}$ Accumulated depreciation & & $9,600\frac{\frac{?}{?}}{?}$

$\frac{?}{\text{h}\text{l}\text{i}\text{n}\text{e}}$ Accounts payable & & $17,700\frac{\frac{?}{?}}{?}$

$\frac{?}{\text{h}\text{l}\text{i}\text{n}\text{e}}$ Bonds payable & & $120,000\frac{\frac{?}{?}}{?}$

$\frac{?}{\text{h}\text{l}\text{i}\text{n}\text{e}}$ Discount $on$ bonds payable & $30,000$ &$\frac{\frac{?}{?}}{?}$

$\frac{?}{\text{h}\text{l}\text{i}\text{n}\text{e}}$ Cormmon stock & & $200,000\frac{\frac{?}{?}}{?}$

$\frac{?}{\text{h}\text{l}\text{i}\text{n}\text{e}}$ Retained earnings & & $155,400\frac{\frac{?}{?}}{?}$

$\frac{?}{\text{h}\text{l}\text{i}\text{n}\text{e}}$ Totals & $\frac{?}{?}$$ $504,500$ & $\frac{?}{?}$$ $504,500\frac{\frac{?}{?}}{?}$

$\frac{?}{\text{h}\text{l}\text{i}\text{n}\text{e}}\frac{?}{e}$

$nd\{tabular\}$

During January $2024,$ the following transactions occurred:

$```$

January $1$ Borrowed $$100,000$ from Captive Credit Corporation. The installment note bears interest $at7\%$ annually and matures $in5$

years. Payments $of$ $$1,980$ are required $at$ the end $of$ each month for $60$ months.

January $1$ Called the bonds $at$ the contractual call price $of$ $$100,000.$ The $6\%$ bonds pay interest semiannually each June $30$ and

December $31.$

January $4$ Received $$31,000$ from customers $on$ accounts receivable.

January $10$ Paid cash $on$ accounts payable, $$11,000.$

January $15$ Paid cash for salaries, $$28,900.$

January $30$ Firework sales for the month totalled $$195,000.$ Sales included $$65,000$ for cash and $$130,000on$ account. The cost $of$ the

units sold was $$112,500.$

$```$

Danuary $15$ Paid cash for salaries, $$28,900.$

January $30$ Firework sales for the month totalled $$195,000.$ Sales included $$65,000$ for cash and $$130,000on$ account. The cost $of$ the

units sold was $$112,500.$

January $31$ Paid the first monthly installment $of$ $$1,980$ related $to$ the $$100,000$ borrowed $on$ January $1.$

The following information $is$ available $on$ January $31,2024.$

Depreciation $on$ the building for the month $of$ January $is$ calculated using the straight$-$line method. $At$ the time the building was

purchased, the company estimated a service life $of$ ten years and a residual value $of$ $$24,000.$

$At$ the end $of$ January, $$3,000of$ accounts receivable are past due, and the company estimates that $50\%of$ these accounts will

not $be$ collected. $Of$ the remaining accounts receivable, the company estimates that $2\%$ will not $be$ collected. $No$ accounts were

written off $as$ uncollectible $in$ January.

Unpaid salaries $at$ the end $of$ January are $$26,100.$

Accrued income taxes $at$ the end $of$ January are $$5,000.$