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How do to finish the general journal, income statement and balance sheet ?

On January 1, 2021, the general ledger of Freedom Preworks Includes the following account balances Accounts Cash Accounts Receivable Inventory Land Buildings Allowance for Uncollectible Accounts Accumulated Depreciation Accounts Payable. Common Stock Retained Earnings Totals Debit $ 13,000 37,600 153,800 85,300 138,000 3,600 11,400 37,500 218,000 157,200 $427,700 During January 2021, the following transactions occur January 1 Borrow $118,000 from Captive Credit Corporation. The installment note bears interest at 6% annually and matures in 5 years. Payments of $2,281 are required at the end of each month for 60 months. January 4 Receive $32,800 from customers on accounts receivable. January 10 Pay cash on accounts payable, $29.000. January 15 Pay cash for salaries, $30.700. January 30 Firework sales for the month total $210,600. Sales include $66,800 for cash and $143,800 on account. The cost of the units sold is $121,5ae. January 31 Pay the first monthly installment of $2,281 related to the $118.000 borrowed on January 1. Round your interest calculation to the nearest dollar. The following Information is available on January 31, 2021. 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 $25.800. b. Unpaid salaries at the end of January are $27.900. c. Accrued income taxes at the end of January are $9.800. d. $20.967 of the long-term note payable balance will be paid over the next year e. The company estimates the amount of their bad debt expense and uncollectible accounts at the end of each month. Out of the total 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 $25,800. Prepare the adjusting journal entry for depreciation. Note: Enter debits before credits Credit Depreciation expense Accumulated depreciation Record entry View general journal General Ledger > At the end of January, $4,800 of accounts receivable are past due, and the company estimates that 50% of these accounts will not be collected. Of the remaining accounts receivable, the company estimates that 3% will not be collected. No accounts were written off as uncollectible in January. Note: Enter debits before credits Date Account Title Debit Credit Jan 31 (Bad debt expense Allowance for uncollectible accounts Reconden View general journal Requirement General Ledger > Prey 28 of 26 search - Journal Ledger i e Statement entry is required for a transaction/event, select "No Journal Entry Required" in the first account fie ew transaction list Journal entry worksheet Prepare the closing entry for revenue. Note: Enter debits before credits Date Account Title Debit Credit Jan 31 Record entry Cleur entry View general journal Requirement General Ledger >

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