Presented here are selected transactions related to B. Dylan Corp.

Mar. 1 Sold \(\$ 20,000\) of merchandise to Potter Company, terms \(2 / 10, n / 30\).

11 Received payment in full from Potter Company for balance due on existing accounts receivable.

12 Accepted Juno Company's \(\$ 20,000\), 6-month, \(12 \%\) note for balance due on outstanding account receivable.

13 Made B. Dylan Corp. credit card sales for \(\$ 13,200\).

15 Made Visa credit sales totaling \(\$ 6,700\). A \(5 \%\) service fee is charged by Visa.

Apr. 11 Sold accounts receivable of \(\$ 8,000\) to Harcot Factor. Harcot Factor assesses a service charge of \(2 \%\) of the amount of receivables sold.

13 Received collections of \(\$ 8,200\) on B. Dylan Corp. credit card sales.

May 10 Wrote off as uncollectible \(\$ 16,000\) of accounts receivable. (B. Dylan Corp. uses the percentage-of-receivables basis to estimate bad debts.)

June 30 The balance in accounts receivable at the end of the first 6 months is \(\$ 200,000\). The company estimates that \(10 \%\) of accounts receivable will become uncollectible. At June 30, the credit balance in the allowance account prior to adjustment is \(\$ 3,500\). Recorded bad debt expense.

July 16 One of the accounts receivable written off in May pays the amount due, \(\$ 4,000\), in full.

Instructions

Prepare the journal entries for the transactions. (Cost of goods sold entries are omitted here as well as in homework material.)