The $37,000 beginning balance of inventory consists of 370 units, each costing $100. during january 2018, big blast fireworks had the following inventory transactions: january 3 purchase 1,600 units for $168,000 on account ($105 each).january 8 purchase 1,700 units for $187,000 on account ($110 each).january 12 purchase 1,800 units for $207,000 on account ($115 each).january 15 return 135 of the units purchased on january 12 because of defects. january 19 sell 5,200 units on account for $780,000. the cost of the units sold is determined using a fifo perpetual inventory system. january 22 receive $753,000 from customers on accounts receivable. january 24 pay $520,000 to inventory suppliers on accounts payable. january 27 write off accounts receivable as uncollectible, $3,200.january 31 pay cash for salaries during january, $121,000.required: 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.)