Business, 15.04.2020 00:21, diemiten

On January 1, 2017, Sheridan Company had Accounts Receivable of $57,400 and Allowance for Doubtful Accounts of $3,400. Sheridan Company prepares financial statements annually. During the year, the following selected transactions occurred:

Jan. 5 Sold $4,500 of merchandise to Rian Company, terms n/30.
Feb. 2 Accepted a $4,500, 4-month, 10% promissory note from Rian Company for balance due.
12 Sold $10,000 of merchandise to Cato Company and accepted Cato’s $10,000, 2-month, 9% note for the balance due.
26 Sold $11,900 of merchandise to Malcolm Co., terms n/10.
Apr. 5 Accepted a $11,900, 3-month, 8% note from Malcolm Co. for balance due.
12 Collected Cato Company note in full.
June 2 Collected Rian Company note in full.
15 Sold $2,000 of merchandise to Gerri Inc. and accepted a $2,000, 6-month, 11% note for the amount due.

Journalize the transactions. (Omit cost of goods sold entries.)

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On January 1, 2017, Sheridan Company had Accounts Receivable of $57,400 and Allowance for Doubtful A...