On January 1,2025 , Ivanhoe Company had Accounts Receivable of $53,700 and Allowance for Doubtful Accounts of $3,400. Ivanhoe Company prepares financial statements annually. During the year, the following selected transactions occurred.
Jan. 5 Sold $3,600 of merchandise to Rian Company, terms (n)/(30).
Feb. 2 Accepted a $3,600,4-month, 8% promissory note from Rian Company for balance due.
12 Sold $11,520 of merchandise to Cato Company and accepted Cato's $11,520,2-month, 10% note for the balance due.
26 Sold $5,500 of merchandise to Malcolm Co., terms n/10.
Apr. 5 Accepted a $5,500,3-month, 7% note from Malcolm Co. for balance due.
12 Collected Cato Company note in full.
June 2 Collected Rian Company note in full.
15 Sold $1,900 of merchandise to Gerri Inc. and accepted a $1,900,6-month, 11% note for the amount due.
Journalize the transactions. (Omit cost of goods sold entries.) (List all debit entries before credit entries. Credit account titles are
On January 1,2025,Ivanhoe Company had Accounts Receivable of $53,700 and Allowance for Doubtful Accounts of $3,400.Ivanhoe Company prepares financial statements annually.During the year,the following selected transactions occurred.
Jan.5
Sold$3,600 of merchandise to Rian Company,terms n/30
Feb.2
Accepted a$3.600,4-month,8%promissory note from Rian Company for balance due
12
Sold$11,520 of merchandise to Cato Company and accepted Cato's $11,520,2-month,10% note for the balance due.
26
Sold$5,500 of merchandise to Malcolm Co.,terms n/10.
Apr.5
Accepted a $5.500,3-month,7%note from Malcolm Co.for balance due.
12
Collected Cato Company note in full.
June 2
Collected Rian Company note in full. Sold $1,900 of merchandise to Gerri Inc.and accepted a $1,900,6-month,11%note for the amount due
Journalize the transactions.(Omit cost of goods sold entries.)(List all debit entries before credit entries.Credit account titles are
