Date Account Titles and Explanation Debit Credit ] On January 1, 2022, Novak Corp. had Accounts Receivable of $53,000 and Allowance for Doubtful Accounts of $3,800. Novak Corp. 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 Accepted a \$4,200, 4-month, 9\% promissory note from Rian Company for balance due. 12 Sold $10,800 of merchandise to Cato Company and accepted Cato's $10,800,2-month, 10% note. 26 Sold $5,600 of merchandise to Malcolm Co., terms n/10. Apr. 5 Accepted a \$5,600, 3-month, 8\% note from Malcolm Co. 12 Collected Cato Company note in full. June 2 Collected Rian Company note in full. 15 Sold $1,800 of merchandise to Gerri Inc. and accepted a $1,800, 6-month, 12%