Assignment Task: On January 1, 2022 Skysong had Accounts receivable of $52,500 and allowance for doubtful accounts of $3800. Skysong prepares financial statements annually. During the year, the following selected transactions occurred.
Jan 5 Sold $4200 of merchandise to RiRian COmpany , terms n/30
Feb 2 Accepted a $4200 4 month 9% promissory note from Rian company for balance due.
Feb 12 Sold $10,800 of merchandise to Cato Company and accepted Cato's $10,800 2 month 10% note.
Feb 26 Sold $5500 of merchandise to Malcom Co., terms n/10
April 5 Accepted a $5500, 3 month 8% note from Malcom Co.
April 12 Collected Rian Company note in full
June 2 Collected Rian Company in full
June 15 Sold $2200 of merchandise to Gerri Inc and accepted a $2200 6 month 12% note.
Journalize the transactions.