A) The following series of transactions are Gold Standard Reminisce (GSR) dealings with Golden Gables (GG). The Gold Standard Reminisce's annual accounting period ends on December 31.

09/02/20 Sold $16,850 of merchandise to Golden Gables, signing a 10%, 150 day note.

12/31/20 Prepared the adjusting journal entry to record accrued interest on the note.

01/30/21 GSR receives a check from Golden Gables for the maturity value (with interest) of the note.

02/01/21 Golden Gables check is returned by the bank along with a $25 fee.

09/20/21 Golden Gables account is considered a bad debt and written off 03/06/22 Golden Gables bankruptcy trustee sends a check for $2,864.

B) Record all of the transactions between GSR & GG.

Remember to utilize proper journal entry format including accounts with a subsidiary ledger.

C) Compute cost of goods sold, the cost of ending inventory and gross margin for September using Average Cost.