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! Required information [The following information applies to the questions displayed below) On January 1, 2021, the general ledger of Freedom Fireworks includes the following account balances: Credit Debit $ 12,800 37,200 153,600 83,300 136,000 Accounts Cash Accounts Receivable Inventory Land Buildings Allowance for Uncollectible Accounts Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Totals $ 3,400 11,200 35,300 216,000 157,080 $422,900 $422,900 During January 2021, the following transactions occur January Borrow $116,000 from Captive Credit Corporation. The installment note bears Interest at 6% annually and matures 1 in 5 years Payments of $2,243 are required at the end of each month for 6 months January Receive 532,600 ron customers on accounts receivable. 4 January Pay cash on accounts payable. $27,000 10 January Pay cash for salaries, 339,500, 15 January Firework sales for the month tots $210,200. Sales include 566,600 for cash and $143.600 on account. The cost 30 of the units sold is $120,500 January Pay the first monthly installment of $2,243 related to the $116,000 borrowed on Oanuary 1. Round your interest 31 calculation to the nearest dollar 6. Record closing entries (if account field) entry is required for a particular transaction/event, select "No Journal Entry Required in the first

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