=+PR 9-5B Notes receivable entries obj. 6 Chapter 9 Receivables 437 The following were selected from among the transactions completed by Mair Co. during the current year. Mair Co. sells and installs home and business security systems.

Jan. 10. Loaned $12,000 cash to Jas Caudel, receiving a 90-day, 8% note.

Feb. 4. Sold merchandise on account to Periman & Co., $28,000. The cost of the merchandise sold was $16,500.