Required information Exercise 9-21 Complete the accounting cycle using long-term liability transactions (LO9-2, 9-8) [The following information applies to the questions displayed below.] On January 1, 2021, the general ledger of Freedom Fireworks includes the following account balances: Accounts Cash Debit $ 11,700 Credit Accounts Receivable Inventory 35,000 152,500 Land 72,300 Buildings 125,000 Allowance for Uncollectible Accounts $ 2,300 Common Stock Accumulated Depreciation Accounts Payable Retained Earnings Totals 10,100 23,200 205,000 155,900 $396,500 $396,500 During January 2021, the following transactions occur: January Borrow $105,000 from Captive Credit Corporation. The installment note bears interest at 6% annually and matures in 5 years. Payments of $2,030 are required at the end of each month for 60 months. Receive $31,500 from customers on accounts receivable. 1 January 4 January 10 January 15 January 30 Pay cash on accounts payable, $16,000. Pay cash for salaries, $29,400. Firework sales for the month total $196,000. Sales include $65,500 for cash and $130,500 on account. The cost of the units sold is $115,000. January Pay the first monthly installment of $2,030 related to the $105,000 borrowed on January 1. Round your interest calculation to the nearest dollar. 31 Exercise 9-21 Part 3 3. Prepare an adjusted trial balance as of January 31, 2021