5 of 5 (0 complete) i More Info 2018 Jul. 1 Sold merchandise inventory to Gray Mart, receiving a $40,000, Oct. 31 Recorded cash sales for the period of $19,000. Ignore Cost of Goods nine-month, 10% note. Ignore Cost of Goods Sold. Sold. ont Dec. 31 Made an adjusting entry to accrue interest on the Gray Mart note. 31 Made an adjusting entry to record bad debt expense based on an aging of accounts receivable. The aging schedule shows that $14,300 of accounts receivable will not be collected. Prior to this adjustment, the credit balance in Allowance for Bad Debts is $10,900. 8 2019 Apr. 1 Collected the maturity value of the Gray Mart note Jun, 23 Sold merchandise inventory to Allure, Corp., receiving a 60-day, 9% note for $11,000. Ignore Cost of Goods Sold Aug. 22 Allure, Corp. dishonored its note at maturity, the business converted the maturity value of the note to an account receivable 16 Loaned $23.000 cash to Crenshaw, Inc , receiving a 90day, 12% note No. Dec. 5 Collected in full on account from Allure, Corp. e Co 31 Accrued the interest on the Crenshaw, Inc. note. lds a rint Done FLIX