Current Attempt in Progress

Sheridan Company closes its books on its July $31$ year$-$end. The company does not make entries to accrue for interest except at its

year$-$end. On June $30,$ the Notes Receivable account balance is $$25,800.$ Notes Receivable include the following.

During July, the following transactions were completed.

July $5$ Made sales of $$4,440$ on Sheridan credit cards.

$14$ Made sales of $$700$ on Visa credit cards. The credit card service charge is $6\%.$

$20$ Received payment in full from Coote Inc. on the amount due.

$24$ Received payment in full from Brady Co$.$ on the amount due.

Your answer is partially correct.

Journalize the July transactions and the July $31$ adjusting entry for accrued interest receivable. $($Interest is computed using $360$

days.$)($Omit cost of goods sold entries.$)($List all debit entries before credit entries. Credit account titles are automatically indented when

amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select $"$No

Entry" for the account titles and enter $0$ for the amounts.$)$

Date Account Titles and Explanation

Accounts Receivable

Sales Revenue