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P8.7A P8.6A (LO 1, 3), AP On January...

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Accounting

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P8.6A (LO 1, 3), AP On January 1, 2022, Harvee Company had Accounts Receivable of $54,200 and Allowance for Doubtful Accounts of $3,700. Harvee Company prepares financial statements annually. During the year, the following selected transactions occurred. \begin{tabular}{|c|c|} \hline \begin{tabular}{|r|r|} Jan. & \\ & \\ & \end{tabular} & Sold $4,000 of merchandise to Rian Company, terms n/30. \\ \hline Feb. & \begin{tabular}{l} Accepted a $4,000,4-month, 9% promissory note from Rian \\ Company for balance due. \end{tabular} \\ \hline 12 & \begin{tabular}{l} Sold $12,000 of merchandise to Cato Company and accepted \\ Cato's $12,000,2-month, 10% note for the balance due. \end{tabular} \\ \hline 26 & Sold $5,200 of merchandise to Malcolm Co., terms n/10. \\ \hline Apr. & \begin{tabular}{l} Accepted a $5,200,3-month, 8% note from Malcolm Co. for \\ balance due. \end{tabular} \\ \hline 12 & Collected Cato Company note in full. \\ \hline June 2 & Collected Rian Company note in full. \\ \hline 15 & \begin{tabular}{l} Sold $2,000 of merchandise to Gerri Inc. and accepted a $2,000,6 - \\ month, 12% note for the amount due. \end{tabular} \\ \hline \end{tabular} Instructions Journalize the transactions. (Omit cost of goods sold entries.)

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