accouting help- 2 problems

Project Description:

p9-7c on january 1, 2011, furball company had accounts receivable $98,000 and allowance
for doubtful accounts 8,100. furball company prepares financial statements annually. during
the year the following selected transactions occurred.
jan. 5 sold $10,800 of merchandise to kandle company, terms n/30.
feb. 2 accepted a $10,800, 4-month, 10% promissory note from kandle company for the
balance due.
12 sold $13,500 of merchandise to lowe company and accepted lowe’s $13,500,
2-month, 10% note for the balance due.
26 sold $7,000 of merchandise to barrel co., terms n/10.
apr. 5 accepted a $7,000, 3-month, 8% note from barrel co. for the balance due.
12 collected lowe company note in full.
june 2 collected kandle company note in full.
july 5 barrel co. dishonors its note of april 5. it is expected that barrel will eventually pay
the amount owed.
15 sold $12,000 of merchandise to bushel co. and accepted bushel’s $12,000, 3-month,
12% note for the amount due.
oct. 15 bushel co.’s note was dishonored. bushel co. is bankrupt, and there is no hope of
future settlement.

instructions
journalize the transactions.



attached is the problem. i need it by tomorrow evening. could you help me with this?
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