Sather company had accounts receivable of 64100 and

Reference no: EM13569927

Sather Company had Accounts Receivable of $64,100 and Allowance for Doubtful Accounts of $4,300. Sather Company prepares financial statements annually. During the year, the following selected transactions occurred.

1. Jan. 5 Sold $5,200 of merchandise to Noel Company, terms n/30.

2. Feb. 2 Accepted a $5,200, 4-month, 10% promissory note from Noel Company for balance due.

3. 12 Sold $12,700 of merchandise to Lima Company and accepted Lima's $12,700, 2-month, 11% note for the balance due.

4. 26 Sold $8,200 of merchandise to Hubbard Co., terms n/10.

5. Apr. 5 Accepted a $8,200, 3-month, 9% note from Hubbard Co. for balance due.

6. 12 Collected Lima Company note in full.

7. June 2 Collected Noel Company note in full.

8. 15 Sold $3,300 of merchandise to Matthews Inc. and accepted a $3,300, 6-month, 12% note for the amount due. Journalize the transactions.

Reference no: EM13569927

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