Current Attempt in Progress On January 1, 2022, Kingbird, Inc. had Accounts Receivable of $57,600 and Allowance for Doubtful Accounts of $3,700. Kingbird, Inc. prepares financial statements annually. During the year, the following selected transactions occurred. Jan. 5. Sold $4,200 of merchandise to Rian Company, terms n/30. Feb. 2 12 Accepted a $4,200, 4-month, 9% promissory note from Rian Company for balance due. Sold $12,000 of merchandise to Cato Company and accepted Cato's $12,000. 2-month, 10% note for the balance due. 26 Sold $4,700 of merchandise to Malcolm Co., terms n/10. Apr. 5 Accepted a $4,700, 3-month, 8% note from Malcolm Co. for balance due. 12 June 2 Collected Cato Company note in full. Collected Rian Company note in full. 15 Sold $1,800 of merchandise to Gerri Inc. and accepted a $1,800, 6-month, 12% note for the amount due. Date Account Titles and Explanation Debit -/2.75 1 Credit