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Exercise 18-26 (Algo) General ledger exercise; Bonds; Installment note, early extinguishment (L018-4, 18-5, 18-7) On January 1, 2021, the general ledger of Freedom Fireworks includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Paid-in Capital-Excess of Par Retained Earnings Totals Debit Credit $ 44,700 48,500 9,500 84,000 $ 11,000 16,600 20,000 100,000 39, 109 $186,700 $186,700 During January 2021, the following transactions occur. January 2 Issue an additional 2,300 shares of $1 par value common stock for $46,000. January 9 Provide services to customers on account, $20,400. January 18 Purchase additional supplies on account, $6,998. January 12 Repurchase 1,100 shares of treasury stock for $19 per share. January 15 Pay cash on accounts payable, $18,500. January 21 Provide services to customers for cash, 551,100. January 22 Receive cash on accounts receivable, $18,600. January 29 Declare a cash dividend of se. 2e per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Freedon Fireworks had 20,000 shares outstanding on January 1, 2021, and dividends are not paid on treasury stock.) Ianuary 30 Resale 800 shares of treasury stock for $21 per share. January 31 Pay cash for salaries during January, 544,000. The following information is available on January 31, 2021. 1. Unpaid utilities for the month of January are $8,200. 2. Supplies at the end of January total $7100 3. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased the company estimated a service life of three years and a residual value of $12,000. 4. Accrued income taxes at the end of January are $3,100 General General Income Requirement Journal Ledger Trial Balance Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No journal entry required" In the first account field

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