ifed. (Round to the nearest dollar. ) (Record debits first, t Exclude explanations from journal entries. For notes stated in days, use a 365-day year.) with Soll i More Info 2018 Sold merchandise inventory to Go-Mart, receiving a $37,000, nine-month, 16% note. Ignore Cost of Jul. 1 Goods Sold. Oct. 31 Recorded cash sales for the period of $16,000. Ignore Cost of Goods Sold Dec. 31 Made an adjusting entry to accrue interest on the Go-Mart note Made an adjusting entry to record bad debt expense based on an aging of accounts receivable. The aging schedule shows that $14,300 of accounts receivable will not be collected. Prior to this adjustment, Dec. 31 the credit balance in Allowance for Bad Debts is $10,500. Jate 2019 18 Apr. 1 Collected the maturity value of the Go-Mart note Sold merchandise inventory to Artist, Corp., receiving a 60-day, 9% note for $6,000. Ignore Cost of Jun. 23 Goods Sold. Artist, Corp. dishonored its note at maturity; the business converted the maturity value of the note to an Aug. 22 account receivable. Nov. 16 Loaned $18,000 cash to Crowe, Inc., receiving a 90-day, 14% note Dec. 31: Dec. 5 Collected in full on account from Artist, Corp. Dec. 31 Accrued the interest on the Crowe, Inc. note Date 2018 Print Done Dec. 31 Interest Revenue