On January $1,2024,$ the general ledger of ACME Fireworks includes the following account balances:

Accounts Debit Credit

Cash $ $25,100$

Accounts Receivable $46,200$

Allowance for Uncollectible Accounts $ $4,200$

Inventory $20,000$

Land $46,000$

Equipment $15,000$

Accumulated Depreciation $1,500$

Accounts Payable $28,500$

Notes Payable $(6\%,$ due April $1,2025)50,000$

Common Stock $35,000$

Retained Earnings $33,100$

Totals $ $152,300$ $ $152,300$

During January $2024,$ the following transactions occur:

January $2$ Sold gift cards totaling $$8,000.$ The cards are redeemable for merchandise within one year of the purchase date.

January $6$ Purchase additional inventory on account, $$147,000.$ ACME uses the perpetual inventory system.

January $15$ Firework sales for the first half of the month total $$135,000.$ All of these sales are on account. The cost of the units sold is $$73,800.$

January $23$ Receive $$125,400$ from customers on accounts receivable.

January $25$ Pay $$90,000$ to inventory suppliers on accounts payable.

January $28$ Write off accounts receivable as uncollectible, $$4,800.$

January $30$ Firework sales for the second half of the month total $$143,000.$ Sales include $$11,000$ for cash and $$132,000$ on account. The cost of the units sold is $$79,500.$

January $31$ Pay cash for monthly salaries, $$52,000.$

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 $$3,000$ and a two$-$year service life.

The company records an adjusting entry for $$12,500$ 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 $$13,000.$

By the end of January, $$3,000$ 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