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Retur Sullivan Equipment Sales showed the following 2020 Jan. 15 Sold $25,450 of merchandise for $29,900 to JanCo; terms 3/5, n/15. 16 Wrote off Fedun's account in the amount of $15,450. 20 Collected the amount owing from the January 15 sale. Mar. 1 Apr. 15 Accepted a $12,180, 60-day, 78 note dated this day in granting Parker Holdings a time extension on its pastdue account. Sold merchandise costing $62,450 for $71,900 to customers who used their Visa credit cards. Visa charges a 14 fee and deposits the cash electronically into the retailer's account immediately at the time of sale. Parker Holdings honoured the note dat March 1. 2 Nov. 1 Accepted a $24,900, three-month, 69 note dated this day in granting Grant Company a time extension on its past-due account. Sullivan's year-end. Interest was accrued on outstanding notes receivable. Dec. 31 31 Bad debts are based on an aging analysis that estimated $9,700 of accounts receiva are uncollectible. Allowance for Doubtful Accounts showed an unadjunted credit balance of $1,645 on this date. 2021 7 Grant Company dishonoured its note dated November 1, 2020. Recovered $1,500 from Derek Holston that was previously written off. Mar. 5 14 Wrote off the Grant Company account. Required: a. Determine the maturity dates of the March 1 and November 1 notes Answer is complete and correct. Date of Note Maturity Date March 1 April 30, 2020 February 1 November 1 2021 b. Prepare entries as appropriate for each date. (Round the final answers to 2 decimal places. Use 365 days an year.) Answer is not complete. No Transactions Debit Credit 1 General Journal Accounts receivable - JanCo Sales 29,900.00 29,900.00 2 b. Cost of goods sold Merchandise inventory >> 25,450.00 25,450.00 3 C. Allowance for doubtful accounts Accounts receivable - Fedun 15,450.00 . > 15,450.00 4 d. Cash 29,900.00 OO 29,900.00 Sales discounts Accounts receivable - JanCo 5 e Notes receivable - Parker Holdings Accounts receivable - Parker Holdings 6 1. Cash Credit card expense 7 9 Cost of goods sold Merchandise inventory A h Notes racavable - Parker Holdings 8 h. Notes receivable - Parker Holdings Interest income 9 i. Notes receivable-Grant Company Accounts receivable - Grant Company 10 j. Interest receivable Interest income 0 11 k. Bad debt expense Allowance for doubtful accounts > 12 1. Accounts receivable - Grant Company Interest receivable Interest income Notes receivable - Grant Company >> >> 13 m. Accounts receivable - Derek Holston Allowance for doubtful accounts 14 n. Cash Accounts receivable - Derek Holston O 15 0. Allowance for doubtful accounts Accounts receivable - Grant Company Analysis Component: Sullivan's receivable turnovers at December 31, 2020 and 2021 were 7 and 7.5, respectively. Select the correct option for whether the change in the ratio for Sullivan was favourable or unfavourable. Change in the ratio

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