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On January 1.2022, Sheridan Company had Accounts Receivable $138:800, Notes Receivable $40,800, and Allowance for...

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Accounting

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On January 1.2022, Sheridan Company had Accounts Receivable $138:800, Notes Receivable $40,800, and Allowance for Doubtful Accounts $28.800. The note recelvable is from Willingham Company, It is a 4-month, 8\% note dated December 31, 2021. Sheridan Jan. S Sold $34.800 ot merchandise to Sheidon Company, terms N/15. 20 Accepted Sheldon Compary' $34,800,3-month, 7% note for batance due. Feb. 18 Sold $13,600 of merchandise to Patwary Compary and accepted Patwarys $13,600,6-month, 8\%note far the amount due. Apr. 20 Collected Sheidon Company note in fult. 30. Recelved payment in full from Willingham Company on the arnount due. May 25 Accepted Potter Inc's $20,200,3-month, 6 \& note insettientent of a past-due balance on account. Aug 18 Received payment in full from Patwary Compary on note duc. 25 The Potter Inc note was dishonored. Potter inc is not banknipt, future payment is anticipated. Sept: 1 Sold $12.600 of merchandise to Stanbrough Compary and accepted a $12,600,6-month. 9\%, note for the amount dye Journalize the transactions. (Omit cost of goods sold entries) (Credit occount titles are automatically indented when amount is entered. Do not indent mancially. Record joumal entries in the order presented in the problem.)

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