Question: Question 9 --14 View Policies Current Attempt in Progress On January 2. Uli Ltd. sold merchandise on account to R. James for $45,000. terms n/30.

Question 9 --14 View Policies Current Attempt in Progress On January

Question 9 --14 View Policies Current Attempt in Progress On January 2. Uli Ltd. sold merchandise on account to R. James for $45,000. terms n/30. The company uses a perpetual inventory system and the merchandise originally cost $31,600. On February 1, R. James gave Uli a five-month, 6% note in settlement of this account. On April 30. Uli's year-end, annual adjusting entries were made. On July 1, R. James paid the note and accrued interest. Prepare the journal entries for Uli to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If

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