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On January $1,2022,$ Ivanhoe Company had Accounts Receivable $$126,400,$ Notes Receivable $$45,600,$ and Allowance for Doubtful Accounts $$34,600.$ The note receivable is from Willingham Company. It is a $4-$month, $9\%$ note dated December $31,2021.$ Ivanhoe Company prepares financial statements annually at December $31.$ During the year, the following selected transactions occurred.

Jan. $5$ Sold $$40,700$ of merchandise to Sheldon Company, terms $\frac{n}{15}.$

$20$ Accepted Sheldon Company's $$40,700,3-$month, $8\%$ note for balance due.

Feb. $18$ Sold $$29,800$ of merchandise to Patwary Company and accepted Patwary's $$29,800,6-$month, $9\%$ note for the amount due.

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

$30$ Received payment in full from Willingham Company on the amount due.

May $25$ Accepted Potter Inc.$\text{'}$s $$25,600,3-$month, $7\%$ note in settlement of a past$-$due balance on account.

Aug. $18$ Received payment in full from Patwary Company on note due.

$25$ The Potter Inc. note was dishonored. Potter Inc. is not bankrupt; future payment is anticipated.

Sept. $1$ Sold $$11,800$ of merchandise to Stanbrough Company and accepted a $$11,800,6-$month, $10\%$ note for the amount due.

Journalize the transactions. $($Omit cost of goods sold entries.$)($Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.$)$

Date

Account Titles and Explanation

Debit

Credit