Part $V-$ Receivable $(CLO5\mathrm{.}2-15$ points$)$

$On$ January $1,2020,$ Moly Company had Accounts Receivable $$328,000$; Notes Receivable $of$

$$44,000$; and Allowance for Doubtful Accounts $of$ $$26,000(credit$ balance$).$ The note reccivable

$is$ from Hat Company. $Itisa4-$month, $9\%$ note dated December $31,2019.$ Moly Company

prepares financial statements annually. During the year, the following selected transactions

occurred.

Jan. $5$ Sold $$20,000of$ merchandise $to$ Fly Company, terms$\frac{n}{15.}$

$20$ Accepted Fly Company's $$20,000,3-$month, $9\%$ note for balance due.

Feb. $18$ Sold $$8,000of$ merchandise $to$ Beta Company and accepted Beta's $$8,000,6-$

month, $8\%$ note for the amount due.

Apr. $20$ Collected Fly Company note $in$ full.

$-0\mathrm{.}5$ Received payment $in$ full from Hart Company $on$ the amount due.

May $25$ Accepted Alpha Inc.$\text{'}s$ $$28,000,6-$month, $8\%$ note $in$ settlement $of$ a past$-$due

balance $on$ account.

Aug. $18$ Received payment $in$ ful! from Beta Company $on$ note due.

Sept. $1$ Sold $$100,000of$ merchandise $to$ Cosy Company and accepted $a$ $$100,000,6-$ month,

$9\%$ note for the amount due.

Instructions: Journalize the transactions. $(Omitcostof$ goods sold entries.$)$