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

Accounts Debit Credit

Cash $$26,100$

Accounts Receivable $48,200$

Allowance for Uncollectible Accounts $$5,200$

Inventory $21,000$

Land $56,000$

Equipment $20,000$

Accumulated Depreciation $2,500$

Accounts Payable $29,500$

Notes Payable $(6\%,$ due April $1,2025)60,000$

Common Stock $45,000$

Retained Earnings $29,100$

Totals $$171,300$ $$171,300$

During January $2024,$ the following transactions occur:

January $2$ Sold gift cards totaling $$10,000.$ The cards are redeemable for merchandise within one year of the purchase date.

January $6$ Purchase additional inventory on account, $$157,000.$ ACME uses the perpetual inventory system.

January $15$ Firework sales for the first half of the month total $$145,000.$ All of these sales are on account. The cost of the units sold is $$78,800.$

January $23$ Receive $$126,400$ from customers on accounts receivable.

January $25$ Pay $$100,000$ to inventory suppliers on accounts payable.

January $28$ Write off accounts receivable as uncollectible, $$5,800.$

January $30$ Firework sales for the second half of the month total $$153,000.$ Sales include $$16,000$ for cash and $$137,000$ on account. The cost of the units sold is $$84,500.$

January $31$ Pay cash for monthly salaries, $$53,000.$

The following information is available on January $31.$

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 $$4,400$ and a two$-$year service life.

The company records an adjusting entry for $$13,980$ 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 $$14,000.$

By the end of January, $$4,000$ of the gift cards sold on January $2$ have been redeemed $($ignore cost of goods sold$).$