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[The following information applies to the questions displayed below.] On January 1, 2018, the general ledger...

[The following information applies to the questions displayed below.]

On January 1, 2018, the general ledger of 3D Family Fireworks includes the following account balances:

  Accounts Debit Credit
  Cash $ 26,700
  Accounts Receivable 15,000
  Allowance for Uncollectible Accounts $ 3,600
  Supplies 3,900
  Notes Receivable (6%, due in 2 years) 18,000
  Land 80,300
  Accounts Payable 8,500
  Common Stock 98,000
  Retained Earnings 33,800
       Totals $ 143,900 $ 143,900

During January 2018, the following transactions occur:
  

January 2 Provide services to customers for cash, $49,100.
January 6 Provide services to customers on account, $86,400.
January 15 Write off accounts receivable as uncollectible, $3,300.
January 20 Pay cash for salaries, $32,800.
January 22 Receive cash on accounts receivable, $84,000.
January 25 Pay cash on accounts payable, $6,900.
January 30 Pay cash for utilities during January, $15,100.

Record each of the transactions listed above.

a. The company estimates future uncollectible accounts. The company determines $4,300 of accounts receivable on January 31 are past due, and 20% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 5% of these accounts are estimated to be uncollectible.
b. Supplies at the end of January total $950.
c. Accrued interest revenue on notes receivable for January. Interest is expected to be received each December 31.
d. Unpaid salaries at the end of January are $34,900.

2. Record adjusting entries on January 31 for the above transactions.

3. Prepare an adjusted trial balance as of January 31, 2018.

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