Please create general journal with the adjusting entries for depreciation, uncol

Question

Please create general journal with the adjusting entries for depreciation, uncollectible accounts, salaries, income tax and the closing entries for revenue and expenses. Also please the income statement, balance sheet and the final analysis . Thank you in advance On January 1, 2018, the general ledger of Freedom Fireworks includes the following account balances: Accounts Cash Accounts Receivable nventory Land Buildings Allowance for Uncollectible Accounts Accumulated Depreciation Accounts Payable Common Stock Retained Earnings DebitCredit 13,100 37,800 153,900 86,300 39,000 $ 3,700 11,500 38,600 219,000 157,300 Totals $430,100 $430,100 During January 2018, the following transactions occur: January 1 Borrow $119,000 from Captive Credit Corporation. The installment note bears interest at 6% annually and matures in 5 years. Payments of $2,170 are required at the end of each month for 60 months. January 4 Receive $32,900 from customers on accounts receivable January 10 Pay cash on accounts payable, $30,000. January 15 Pay cash for salaries, $30,800. January 30 Firework sales for the month total $210,800. Sales include $66,900 for cash and $143,900 on account. The cost of the units sold is $122,000. January 31 Pay the first monthly installment of $2,170 related to the $119,000 borrowed on January 1 Round your interest calculation to the nearest dollar.

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Journal:

3. Ratio:

Journal: Jan 1 Cash 119000 Note Payable 119000 Jan 4 Cash 32900 Accounts Receivable 32900 Jan 10 Accounts Payable 30000 Cash 30000 Jan 15 Salaries 30800 Cash 30800 Jan 30 Cash 66900 Accounts Receivable 143900 Sales 210800 Jan 30 Cost of Goods Sold 122000 Inventory 122000 Jan 31 Note Payable 1873 Interest Expense 298 119000*6% for half month Cash 2170 Adjusting: a. Depreciation 11160 (139000-27400)/10 Accumulated Depreciation 11160 b. Bad Debt Expense 2450 4900*50% Bad Debt Expense 2878 143900*2% Allowance for Bad Debt 5328 c. Salaries 28000 Salaries Payable 28000 d. Income Tax Expense 9900 Income Tax Payable 9900

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