1. To record sales account

2. To record cost of goods sold

3. To record sales in exchange for a note receivable

4. To record cost of goods sold

Cullumber Supply Co. has the following transactions: Nov. 1 Loaned $63,600 cash to A. Morgan on a one-year, 9% note. 15 Sold goods to H. Giorgi on account for $14,400, terms n/30. The goods cost Cullumber $9,000. Cullumber uses the perpetual inventory system. Dec. 1 Sold goods to Wrightman Inc., receiving a $24,000, three-month, 7% note. The goods cost Cullumber $16,000. 15H. Giorgi was unable to pay her account. Giorgi gave Cullumber a six-month, 8% note in settlement of her account. 31 Accrued interest revenue on all notes receivable. Interest is due at maturity. Mar. 1 Collected the amount owing on the Wrightman note. June 15 H. Giorgi defaulted on the note. Future payment is expected. Record the transactions for Cullumber Supply Co. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter " 0 " for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.)