At the end of May, the unadjusted trial balance of Barker Industries included the following accounts:

	Debit	Credit
Sales (75% represent credit sales)		$400,000
Accounts Receivable	$240,000
Allowance For Doubtful Accounts		1,800

Barker Industries uses the percentage of sales approach in estimating uncollectible accounts. The uncollectible accounts expense is estimated to be 3% of credit sales The net realizable value of Barker's accounts receivable in the May 31 balance sheet is

$250,800

$229,200

$236,400

$226,200

On February 1, 2013, Fugit Company sells merchandise on account to Armen Company for $6,500. The entry to record this transaction by Fugit Company is

Sales Revenue	6,500
Accounts Payable		6,500

Cash	6,500
Sales Revenue		6,500

Accounts Receivable	6,500
Sales Revenue		6,500

Notes Receivable	6,500
Accounts Receivable		6,500