Problem 1 : P8-31A Assignment 1) Using the General Journal tab, click Add Transaction to journalize each transaction. Click Post Transaction once you complete the entry, then repeat these steps for each transaction. Round any calculations to the nearest dollar. 2) Click the Reports tab and review the results of recording these transactions on the General Ledger 3) Click Submit Work when complete. Background Sleepy Recliner Chairs completed the transactions listed in the Transctions section below related to receivables during its fiscal year Transactions: 07/01/2018 sold merchandise inventory to Stan-Mart, receiving a $41,000, nine-month, 8% note. Ignore Cost of Goods Sold 08/01/2018 Sold merchandise to Appeal Company, receiving a 60-day, 6% note for $7,000. Ignore Cost of Goods Sold. 09/30/2018 Appeal Company dishonored its note at maturity. The business converted the maturity value of the note to an accounts receivable 04/01/2019 Collected the maturity value of the Stan-Mart note 1-05/16/2019 Loaned$17,000 cash to Crosby,Inc., receiving a 90-day, 16%,note SAVE WORK RESET RESULTS SUBMIT WORK BUSINESs REPORTS uly 1, 2018-June 30, 2019 COMPANY INFORMATION CHART OF AccOUNTS GENERAL JoURNAL LGENERAL JOURNAL Date Accounts Debit Credit | 07/01/2018 | Notes Receivable 41,000 Sales Revenue 41,000 08/01/2018 Cash 7,000 Sales Revenue 7,000 ADD TRANSACTION EDIT CHECKED TRANSACTION DELETE CHECKED TRANSACTIONS roblem 1: P8-31A Assignment 1) Using the General Journal tab, click Add Transaction to journalize each transaction. Click Post Transaction once you complete the entry, then repeat these steps for each transaction. Round any calculations to the nearest dollar. 2) Click the Reports tab and review the results of recording these transactions on the General Ledger. 3) Click Submit Work when complete Background Sleepy Recliner Chairs completed the transactions listed in the Transctions section below related to receivables during its fiscal year Transactions: 06/01/2019 Collected in full on account from Appeal Company. 06/30/2019 Accrued interest on the Crosby, Inc. note 06/30/2019 Made an adjusting entry to record bad debts expense base on an aging of accounts receivable. The aging schedule shows that 13,800 of accounts receivable will not be collected. Prior to this adjustment, the credit balance in Alowance for Bad Debts was SAVE WORK RESETRESULTSSUBMIT WORK BUSINES:S REPORTS July 1, 2018 June 30, 2019 COMPANY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Date Accounts Debit Credit 07/01/2018 Notes Receivable 41,000 Sales Revenue 41,000 08/01/2018 Cash 7,000 Sales Revenue 7,000 ADD TRANSACTION EDIT CHECKED TRANSACTION DELETE CHECKED TRANSACTIONS