On January $1,2024,$ the general ledger of $3$D Family Fireworks includes the following account balances: $\backslash$table$[[$No$,$Date,General Journal,Debit,Credit$],[1,$January $02,2024,$Cash $(,45,100,],[2,$January $06,2024,$Accounts Receivable $(,82,400,],[3,$January $15,2024,$Allowance for Uncollectible Accounts,$2,400,],[4,$January $20,2024,$Salaries Payable $\backslash$times $,32,400,],[5,$January $22,2024,$Accounts Receivable $\backslash$times $,80,000,],[6,$January $25,2024,$Accounts Payable $(,6,500,],[7,$January $30,2024,$Utilities Payable $\backslash$times $,14,700,],[8,$January $31,2024,$Allowance for Uncollectible Accounts $\backslash$times $,6,000\backslash$times $,],[9,$January $31,2024,$Supplies Expense,$2,750,],[10,$January $31,2024,$Interest Receivable,$125,],[11,$January $31,2024,$Salaries Expense,$34,500>,],[12,$January $31,2024,$Deferred Revenue $\backslash$times $,500\backslash$times $,],[13,$January $31,2024,$Salaries Expense $\backslash$times $,10,900\backslash$times $,]]$ Enter your Accounts Receivable turnover value rounded to $1$ decimal place and Ratio of Allowance for Uncollectible Accounts as a

percentage rounded to $1$ decimal place.

Analyze how well $3$D Family Fireworks manages its receivables

$($a$)$ Calculate the receivables turnover ratio for the month of January. $($Hint: For the numerator, use total services provided to customers

on account.$)$ If the industry average of the receivables turnover ratios for the month of January is $4\mathrm{.}3$ times, is the company collecting

cash from customers more or less efficiently than other companies in the same industry? Requirement

General

General

Income

Journal

Trial Balance

Balance Sheet

Analysis

Choose the appropriate accounts to complete the company's balance sheet. Make sure to select 'adjusted' from the dropdown, whic then populate the balances in those accounts from the adjusted trial balance.

Post$-$closing

$\backslash$table$[[3$D Family Fireworks$],[$Balance Sheet$],[$January $31,2024],[$Assets$,$Liabilities$],[$Current Assets:,,,Current Liabilities:,,$],[,$$$,0,,,],[,,0,,,],[,,0,,,],[,,0,,,],[,,0,$Total Current Liabilities,,$0],[,,,,,],[,,,,,],[,,,,,],[$Total Current Assets,,$0,$Total Liabilities,,$0],[$Long$-$term assets:,,,Stockholders' Equity,,$],[,,,,,0],[,,,,,0],[,,,,,0],[,,,$Total Stockholders' Equity,,$0],[$Total Assets,$$,0,$Total Liabilities & Stockholders' Equity,$$,0]]$Requirement

General

General

Journal

Trial Balance

Income

Balance Sheet

Choose the appropriate accounts to complete the company's income statement. Select 'adjusted' from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance.

Post$-$closing

$\backslash$table$[[3$D Family Fireworks$],[$Income Statement,$],[$Revenue:$,,],[,,],[,,$$$],[$Total Revenue,,$0],[$Expenses:$,,],[,,],[,,],[,,],[,,],[$Total Expenses,,$],[,,]]$

During January $2024,$ the following transactions occur:

January $2$ Provide services to customers for cash, $$45,100.$

January $6$ Provide services to customers on account, $$82,400.$

January $15$ Write off accounts receivable as uncollectible, $$2,400.($Assume the company uses the allowance method$)$

January $20$ Pay cash for salaries, $$32,400.$

January $22$ Receive cash on accounts receivable, $$80,000.$

January $25$ Pay cash on accounts payable, $$6,500.$

January $30$ Pay cash for utilities during January, $$14,700.$

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

a$.$ The company estimates future uncollectible accounts. The company determines $$6,000$ of accounts receivable on January $31$ are

past due, and $20\%$ of these accounts are estimated to be uncollectible. The remaining accounts receivable on January $31$ are not past

due, and $5\%$ of these accounts are estimated to be uncollectible. $($Hint$.$ Use the January $31$ accounts receivable balance calculated in

the general ledger to split total accounts receivable into the $$6,000$ past due and the remaining amount not past due.$)$

b$.$ Supplies at the end of January total $$750.$ All other supplies have been used.

c$.$ Accrued interest revenue on notes receivable for January. Interest is expected to be received each December $31.$

d$.$ Unpaid salaries at the end of January are $$34,500.$

Record each of the transactions listed above in the 'General Journal' tab $($these are shown as items $1$ to $7).$ Review the

'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances.

Record the adjusting entries in the 'General Journal' tab $($these are shown as items $8$ to $11).$

Review the adjusted 'Trial Balance' as of January $31,2024,$ in the 'Trial Balance' tab.

Prepare an income statement for the period ended January $31,2024,$ in the 'Income Statement' tab.

Prepare a classified balance sheet as of January $31,2024$ in the 'Balance Sheet' tab.

Record the closing entries in the 'General Journal' tab $($these are shown as items $12$ and $13).$

Using the information from the requirements above, complete the 'Analysis' tab.