Question: =+EX 9-20 Entries for notes receivable obj. 6 b. $40,600 The series of seven transactions recorded in the following T accounts were related to

=+EX 9-20 Entries for notes receivable obj. 6

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b. $40,600 The series of seven transactions recorded in the following T accounts were related to a sale to a customer on account and the receipt of the amount owed. Briefly describe each transaction.

CASH NOTES RECEIVABLE

(7) 30,955 (5) 30,000 (6) 30,000 ACCOUNTS RECEIVABLE SALES RETURNS AND ALLOWANCES

(1) 35,000 (3) 5,000 (3) 5,000

(6) 30,750 (5) 30,000

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