Corey Company reported the below information at year end on December 31, 2020:

1. Accounts Receivable $55,600

2. Allowance for Doubtful Accounts $5,100.

Corey Company uses a periodic inventory system and prepares financial statements annually.

The interest on all promissory notes is paid at maturity.

During 2021, the following selected transactions occurred:

Jan. 1 Sold $7,500 of merchandise on account to Fred Pearson Company.

Feb. 1 Accepted a $7,500, 4-month, 6% promissory note from Fred Pearson Company

in settlement of the balance due from the January 1 sale.

Feb. 10 Sold $8,400 of merchandise to Jackson Company and accepted Jacksons $8,400, 60-

day, 7.5% promissory note for the sale.

Feb. 24 Sold $6,000 of merchandise on account to Mathew Company.

Apr. 6 Accepted a $6,000, 90-day, 6% promissory note from Mathew Company in settlement of the

balance due from the February 24 sale.

Apr. 11 Collected the Jackson Company promissory note in full at maturity.

June 1 Collected the Fred Pearson Company promissory note in full at maturity.

July 5 Mathew Company dishonours its promissory note from April 6. It is expected that Mathew will

eventually pay the amount owed.

July 16 Sold $5,000 of merchandise to Fry Company and accepted Frys $5,000, 90-day, 7%

promissory note for the sale.

Oct. 14 Fry Company dishonours its promissory note from July 16. Fry Company is bankrupt and there is

no hope of future collection.

Instructions:

Journalize the above transactions for Corey Company.