Chapter 07 Homework A Saved On June 30, Petrov Co. has $124,100 of accounts receivable. July 4 Sold $6,485 of merchandise (that had cost $4,150) to customers on credit terms n/30. 9 Sold $17,374 of accounts receivable to Main Bank. Main charges a 6% factoring fee. 17 Received $3,567 cash from customers in payment on their accounts. 27 Borrowed $9,928 cash from Main Bank, pledging $12,906 of accounts receivable as security for the loan. points Prepare journal entries to record the above selected July transactions. (The company uses the perpetual inventory system.) (Round final amount to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) eBook View transaction list Hint Journal entry worksheet Print 2 3 4 5 6 References Sold $6,485 of merchandise to customers on credit. Note: Enter debits before credits. General Journal Debit Credit Date July 04 Record entry Clear entry View general journal