On January 1, 2007, Paris Company had Accounts Receivable of $54,200 and Allowance for Doubtful Accounts of $3,700. Paris Company prepares financial statements annually and uses a perpetual inventory system. During the year the following selected transactions occurred.

Jan. 5 Sold $6,000 of merchandise to London Company, terms n/30. Cost of the merchandise sold was $4,000.

Feb. 2 Accepted a $6,000, 4-month, 9% promissory note from London Company for balance due.

12 Sold $8,100 of merchandise costing $5,000 to Dublin Company and accepted Dublin’s $8,100, 2-month, 10% note for the balance due.

26 Sold $5,200 of merchandise costing $3,300 to Florence Co., terms n/10.

Apr. 5 Accepted a $5,200, 3-month, 8% note from Florence Co. for balance due. 12. Collected Dublin Company note in full.

June 2 Collected London Company note in full.

15 Sold $2,000 of merchandise costing $1,500 to Madrid Inc. and accepted a $2,000, 6-month, 12% note for the amount due.

Instructions Journalize the transactions.