On january 1, 2018, the general ledger of big blast fireworks includes the following account balances: accounts debit creditcash $ 23,900 accounts receivable 41,500 inventory 40,000 land 76,600 allowance for uncollectible accounts 5,100 accounts payable 27,400 notes payable (9%, due in 3 years) 40,000 common stock 66,000 retained earnings 43,500 totals $ 182,000 $ 182,000 the $40,000 beginning balance of inventory consists of 400 units, each costing $100. during january 2018, big blast fireworks had the following inventory transactions: january 3 purchase 1,900 units for $205,200 on account ($108 each).january 8 purchase 2,000 units for $226,000 on account ($113 each).january 12 purchase 2,100 units for $247,800 on account ($118 each).january 15 return 150 of the units purchased on january 12 because of defects. january 19 sell 6,100 units on account for $915,000. the cost of the units sold is determined using a fifo perpetual inventory system. january 22 receive $885,000 from customers on accounts receivable. january 24 pay $650,000 to inventory suppliers on accounts payable. january 27 write off accounts receivable as uncollectible, $3,500.january 31 pay cash for salaries during january, $124,000.1.value: 10.00 pointsrequired informationrequired: 1. record each of the transactions listed above, assuming a fifo perpetual inventory system. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.) 2.value: 10.00 pointsrequired informationa. at the end of january, the company estimates that the remaining units of inventory are expected to sell in february for only $100 each. b. at the end of january, $5,000 of accounts receivable are past due, and the company estimates that 35% of these accounts will not be collected. of the remaining accounts receivable, the company estimates that 3% will not be collected. c. accrued interest expense on notes payable for january. interest is expected to be paid each december 31.d. accrued income taxes at the end of january are $13,300. 2. record adjusting entries on january 31 for the above transactions. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)