#2 Below is a series of accounts for the Whitman Company, numbered for identification. Following the accounts is a series of transactions. For each transaction, indicate the account(s) that should be debited and credited in the required journal entry(s) by entering the appropriate account number(s) to the right of each transaction Acct. # Account Title Accounts receivable Accounts payable Sales Revenue Inventory Cash Cost of Goods Sold Notes Receivable Income taxes payable Interest Revenue Interest Receivable Allowance for Doubtful Accounts Bad Debt Expense 10 12 Transactions Example: On March 1,2016, Whitman Co. paid its suppliers $20,000 that it owed A. On March 30, 2016, Whitman Co. sells $50,000 of merchandise to B. On March 31,2016 the appropriate bad debt expense was recorded C. On April 1, 2016 Whitman determined that $500 of its first quarter D. On Oct. 1,2015, Whitman provided one of its customers with a $10,000, for merchandise it bought on credit in the previous month. customers on credit. The merchandise originally cost Whitman $30,000. using 2% of credit sales as an estimate. credit sales were uncollectible and was written off. 1 year, 12% loan. Interest is paid twice on March 31, 2016 and at maturity on Sept. 30, 2016. What journal entry did Whitman make on Oct. 1,2015? E. On Sept. 30, 2016 what journal entries will Whitman make regarding the loan? Hints: Transactions B, C, D each have only one debit and one credit. Transaction A had 2 debits and 2 credits. Transaction E has one debit and three credits