eBook progress=false Sales and Notes Receivable Transactions The following were selected from among the transactions completed during the current year by Danix Co., an appliance wholesale company: Jan. 21. Sold merchandise on account to Black Tie Co., $28,000. The cost of merchandise sold was $16,800. Mar. 18 Accepted a 60-day, 6% note for $28,000 from Black Tie Co, on account. May 17. Received from Black Tie Co. the amount due on the note of March 18. June 15 Sold merchandise on account to Pioneer Co. for $17,700. The cost of merchandise sold was $10,600, 21. Loaned $18,000 cash to JR Stutts, receiving a 30-day, 8% note. 25. Received from Pioneer Co, the amount due on the invoice of June 15. July 21. Received the interest due from JR Stutts and a new 60-day, 9% note as a renewal of the loan of June 21. (Record both the debit and the credit to the notes receivable account.) Sept. 19. Received from JR Stutts the amount due on her note of July 21. 22 Sold merchandise on account to Wycoff Co., $20,000. The cost of merchandise sold was $12,000. Oct. 14. Accepted a 30-day, 6% note for $20,000 from Wycoff Co. on account. Nov. 13. Wycoff Co. dishonored the note dated October 14. Dec. 28. Received from Wycoff Co. the amount owed on the dishonored note, plus interest for 45 days at 8% computed on the maturity value of the note Required: Journalize the entries to record the transactions. Assume 360 days in a year. For a compound entry, if an amount box does not require an entry, leave it bila Jan. 21 sale Accounts Receivable-Black Tie Co. Sales Check My Work Journalize the entries to record the transactions. Assume 360 days in a year. For a compound entry, if an amount box does not require an entry, leave it blank. Jan. 21-sale Accounts Receivable Black Tie Co. Sales Jan. 21-cost Cost of Merchandise Sold Merchandise Inventory Mar. 15 Notes Receivable Accounts Receivable Black Tie Co. May 17 Cash Notes Receivable Interest Revenue June 15-sale Accounts Receivable - Pioneer Co. Sales June 15-cost cost of Merchandise Sold Merchandise Inventory June 21 Notes Receivable Net DO Cash June 25 Cash Accounts Receivable Pioneer Cov July 21 Notes Receivable Cash & Notes Receivable Interest Revenue Sept. 19 note Cash Notes Receivable Tnterest Revenue I DIII III I DO II III IIIIII Sept 22-sate Accounts Receivable Wycott Co. Sales Sept. 12 cow Cost of Merchandise Sold Merchandise Inventory Oct. 14 Notes Receivable Prev Net Synntilain.do?invoker=&takeAssignmentSessionLocator Binprogress=false eBook Sept. 22-cost Cost of Merchandise Sold Merchandise Inventory Oct. 14 Notes Receivable Accounts Receivable-Wycoff Co. Nov. 13 Accounts Receivable Wycoff Co. Notes Receivable Interest Revenue III III IL O Olll lll Dec. 28 Cash Accounts Receivable Wycoff Co. Interest Revenue