(Solved): Required information [The following information applies to the questions displayed below.] On Januar ...

Required information [The following information applies to the questions displayed below.] On January 1, 2024, the general ledger of Freedom Fireworks includes the following account balances: \table[[Accounts,Debit,Credit],[Cash,

,],[Accounts Receivable,34,400,],[Allowance for Uncollectible Accounts,152,200,],[Inventory,69,300,],[Land,122,000,9,800],[Buildings,,19,900],[Accumulated Depreciation,,202,000],[Accounts Payable,,155,600],[Common Stock,,],[Retained Earnings,,],[Totals,,]] During January 2024, the following transactions occur: January 1 Borrow

from Captive Credit Corporation. The installment note bears interest at

annually and matures in 5 years. Payments of

are required at the end of each month for 60 months. January 4 Receive

from customers on accounts receivable. January 10 Pay cash on accounts payable,

. January 15 Pay cash for salaries,

. January 30 Firework sales for the month total

. The cost of the units sold is

. January 31 Pay the first monthly installment of

related to the

borrowed on January 1 . Prepare a multiple-step income statement for the period ended January 31, 2024. (Do not round intermediate calculations.)