Busi 2221 Handout Assignment ch 8 Due: November 27, 2019 Chapter 8 Hand-out Assignment Question 1 Revis Flooring has a December 31 year end and uses the perpetual inventory system. The following transactions occurred during 2021 and 2022: 2021 Aug 30 Sold goods with a cost of $ 8,250 to Jules Harrison for $ 14,500 on account terms 2/15, n/30. Oct 1 Dec 18 Jules ran into some financial troubles and reached an agreement with Revis to convert the account receivable into a 90-day, 8% note receivable. Sold goods with a cost of $ 1,420 to Flore Hardy for $2,900 on account, terms 2/15, n/30. Prepared the adjusting entries to record accrued interest and an estimated allowance for doubtful accounts of S 2,750. Dec 31 2022 Jan 2 Collected the amount due from Flore. Instructions Prepare all required journal entries for the above transactions assuming Revis uses the allowance method and Allowance for Doubtful Accounts does not have an opening balance. Round all answers to the nearest whole dollar