> A Moving to another question will save this response. uestion 16 Time: 15 Minutes Anderson Company reported the following accounts on its Balance Sheet at December 31, 2019 Anderson Company had the following transactions during January 2020 and uses a perpetual inventory method. Anderson uses the Allowance for Doubtful Accounts method to ac Jan 1 Borrowed 540.000 from Wells Fargo by signing a 9-month, 12% note. Jan 4 Sold inventory for $16,000 on account to Ashley Company. The inventory cost $12,500. The terms of the sale are 2/10,n/30. Jan 5 Wrote off an uncollectible account in the amount of $2,000. Jan 8 Purchased $30,500 inventory on account. The terms of the purchase are 3/10, n/30 Jan 13 Sold inventory for $18,000 for cash that cost $16,000. Jan 14 Received full payment from Ashley for the sale on January 4. Jan 15 issued a 4-month, 8% note to Daffy Company for $30,000. Jan 17 Paid full balance for the January 8 purchase. Jan 19 Recovered $1,000 from a previous uncollectible account Jan 27 Sold inventory for $4,000 to Cooper. The inventory cost $1,500. Cooper paid with his Bank of America credit card. The bank charges a 2% service charge fee. Instructions: Prepare the journal entries for the transactions above. Debit Credit Date Account Title $40,000 Jan cash $40,000 accounts payable