3 26 The following selected transactions occurred for Foress Corporation. The company uses a perpetual inventory system, has a May 31 year end, and adjusts its accounts annually. Feb. 1 Sold merchandise for $8,200 on account (n/30) to Morgan Ltd.. The cost of goods sold was $6,150. Sold $12,000 of merchandise costing $9,100 to Gauthier Company and accepted Gauthier's two- month, 6% note in payment. Interest is due at maturity. Sold $10,800 of merchandise to Mathias Corp., terms n/30. The cost of the merchandise sold was $7,400. Mar. 6 Sold, on account, $4,100 of merchandise that cost $2,800 to Superior Limited. Accepted a two-month, 6%, $10,800 note from Mathias for the balance due. Interest is due at maturity. (See February 26 transaction.) Apr. 3 Collected the Gauthier note in full. (See February 3 transaction.) May 27 The Mathias note of March 27 was dishonoured. It is expected that Mathias will eventually pay the amount owed. 31 Recorded accrued interest for three months on outstanding interest on the receivable due from Morgan. Interest on unpaid receivables is charged at 24% per annum (2% per month). (See February 1 transaction.) 27 Record the above transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Round answers to the nearest whole dollar, e.g. 5,275.) May 27 Accounts Receivable Notes Receivable 10800 Interest Revenue To record nota dichonoured