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

During January $2024,$ the following transactions occur:

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

a$.$ 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 $10$ years and a residual value of $$27,400.$

b$.$ The company estimates additional future uncollectible accounts of $$1,628.$

c$.$ Unpaid salaries at the end of January are $$28,000.$

d$.$ Accrued income taxes at the end of January are $$9,900.$

e$.$ The portion of Notes Payable $($long$-$term$)$ due within the next $12$ months is reclassified as Notes Payable $($current$).$ The amount of the

rerlaccifiration ic $$71145$The following information is available on January $31,2024.$

a$.$ 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 $10$ years and a residual value of $$27,400.$

b$.$ The company estimates additional future uncollectible accounts of $$1,628.$

c$.$ Unpaid salaries at the end of January are $$28,000.$

d$.$ Accrued income taxes at the end of January are $$9,900.$

e$.$ The portion of Notes Payable $($long$-$term$)$ due within the next $12$ months is reclassified as Notes Payable $($current$).$ The amount of the

reclassification is $$21,145.$

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

FIFO perpetual inventory system. Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions

on the account balances.

Record adjusting entries on January $31.$ in the 'General Journal' tab $($these are shown as items $8$ to $12).$

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

Prepare a multiple$-$step 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 $13$ and $14).$