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During January 2024 , the following transactions occur: January 2 Sold gift cards totaling $9,800....

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Accounting

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During January 2024 , the following transactions occur: January 2 Sold gift cards totaling $9,800. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additiona I inventory on account, $156,000. Acret uses the perpetual inventory systeas. January 15 Fireviork sales for the first half of the month total \$144,000, AL1 of these sales are on account, The cost of the units sold is $78,300. January 23 Receive $126,300 from custoners on accounts receivable. January 25 Pay $99,000 to inventory suppliers on accounts payable. January 28 Hrite off accounts receivable as uncollectible, 55,700 . January 30 Firework sales for the second half of the nonth total $152,000. Sales include $12,000 for cash and $140,000 on account. The cost of the units sold is $84,000. January 31 Pay cash for monthly salaries, $52,900

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