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

Accounts Debit Credit

Cash $ $60,100$

Accounts Receivable $27,800$

Allowance for Uncollectible Accounts $ $3,600$

Inventory $37,700$

Notes Receivable $(5\%,$ due in $2$ years$)28,800$

Land $169,000$

Accounts Payable $16,200$

Common Stock $234,000$

Retained Earnings $69,600$

Totals $ $323,400$ $ $323,400$

During January $2024,$ the following transactions occur:

January $1$ Purchase equipment for $$20,900.$ The company estimates a residual value of $$2,900$ and a four$-$year service life.

January $4$ Pay cash on accounts payable, $$10,900.$

January $8$ Purchase additional inventory on account, $$96,900.$

January $15$ Receive cash on accounts receivable, $$23,400.$

January $19$ Pay cash for salaries, $$31,200.$

January $28$ Pay cash for January utilities, $$17,900.$

January $30$ Firework sales for January total $$234,000.$ All of these sales are on account. The cost of the units sold is $$122,000.$

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

Depreciation on the equipment for the month of January is calculated using the straight$-$line method.

The company records an adjusting entry for $$5,620$ for estimated future uncollectible accounts.

The company has accrued interest on notes receivable for January.

Unpaid salaries owed to employees at the end of January are $$34,000.$

The company accrued income taxes at the end of January $$10,400.$