J. K. Pratt Co. had the following transactions:

20-1

July 20 Received a $750, 30-day, 10% note from J. Akita in payment for sale of merchandise.

Aug. 19 J. Akita paid note issued July 20 plus interest.

25 Sold merchandise on account to L. Beene, $1,100.

Sept. 5 L. Beene paid $100 and gave a $1,000, 30-day, 12% note to extend time for payment.

Oct. 5 L. Beene paid note issued September 5, plus interest.

10 Sold merchandise to R. Harris for $750: $50 plus a $700, 30-day, 11% note.

Nov. 9 R. Harris paid $200 plus interest on note issued October 10 and extended the note ($500) for 30 days.

Dec. 9 R. Harris paid note extended on November 9, plus interest.

10 Sold merchandise on account to B. Kraus, $1,500.

15 B. Kraus paid $150 on merchandise purchased on account, and gave a $1,350, 30-day, 12% note to extend time for payment.

20-2

Jan. 14 B. Kraus’s note of December 15 is dishonored.

Feb. 13 Collected B. Kraus’s dishonored note, plus interest at 12% on the maturity value.

REQUIRED

Record the transactions in a general journal.