On January 1, 2025, Harvee Company had Accounts Receivable of \(\$ 54,200\) and Allowance for Doubtful Accounts of \(\$ 3,700\). Harvee Company prepares financial statements annually. During the year, the following selected transactions occurred.

Instructions

Journalize the transactions. (Omit cost of goods sold entries.)

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Jan. 5 Feb. 2 12 26 Apr. 5 12 June 2 15 Sold $4,000 of merchandise to Rian Company, terms n/30. Accepted a $4,000, 4-month, 9% promissory note from Rian Company for balance due. Sold $12,000 of merchandise to Cato Company and accepted Cato's $12,000, 2-month, 10% note for the balance due. Sold $5,200 of merchandise to Malcolm Co., terms n/10. Accepted a $5,200, 3-month, 8% note from Malcolm Co. for balance due. Collected Cato Company note in full. Collected Rian Company note in full. Sold $2,000 of merchandise to Gerri Inc. and accepted a $2,000, 6-month, 12% note for the amount due.