12. (25 points) Prepare general journal entries for the following transactions of Viking Company assuming they use the allowance method to account for uncollectible accounts, and the perpetual method for accounting for inventory. Qmit explanations 1 Sold $2,500 ofrmerchandiseto Arthur Co., receiving an 8%, 90-day,$2,500 note in exchange. The cost of the merchandise was $1,300 wrote offs 1,500 owed by Network Co . Apr TS 30 | Recei veda56,000, 5%, 30-day note receivable from Calvin Co. in exchange for its $6,000 account receivable. May 30 The note received from Calvin on April 30 was collected in full June 30 Arthur Co. was unable to pay the note on the due date, and the account was written off. July 15 Network Co, paid $1,00 of the amount wrten oftf on April I5 Apr 1 30 May 30 June 30 July 15