Evergreen Company sells lawn and garden products to wholesalers. The company's fiscal year-end is December 31. During 2021, the following transactions related to receivables occurred: Feb. 28 Sold merchandise to Lennox, Inc., for $12,000 and accepted a 8%, 7-month note. Bx is an appropriate rate for this type of note. Mar. 31 Sold merchandise to Maddox Co. that had a fair value of 57,636, and accepted a noninterest-bearing note for which 58,300 payment is due on March 31, 2022. Apri 3 Sold merchandise to Carr Co. for $7,380 with terms 3/10, 1/30. Evergreen uses the gross method to account for cash discounts 11 Collected the entire amount due from Carr Co. 17 A customer returned merchandise costing $3,500. Evergreen reduced the customer's receivable balance by 55,300, the sales price of the merchandise. Sales returns are recorded by the company as they occur. 30 Transferred receivables of $53,000 to a factor without recourse, the factor charged Evergreen a 2% Finance charge on the receivables transferred. The sale criteris are met. June 30 Discounted the Lennox, Inc., note at the bank. The bank's discount rate is 10%. The note was discounted without recourse Sep. 38 Lennox, Inc., paid the note mount plus interest to the bank Required: 1. Prepare the necessary journal entries for Evergreen for each of the above dates for transactions involving the sale of merchandise. Ignore the entry for the cost of goods sold 2. Prepare any necessary adjusting entries at December 31 2021. Adjusting entries are only recorded at year-end 3. Prepare a schedule showing the effect of the journal entries on 2021 Income before taxes Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the necessary Journal entries for Evergreen for each of the above dates. For transactions involving the sale of merchandise Ignore the entry for the cost of goods sold. (If no entry is required for transaction event, select "No Journal entry required in the first account fold. Dorot round intermediate calculations Round your answers to the nearest whole doc) Journal entry worksheet 10 Evergreen Company sells lawn and garden products to wholesalers. The company's fiscal year-end Is December 3. During 2021 the following transactions related to receivables occurred: Feb. 28 Sold merchandise to Lennox, Inc., for $12,800 and accepted a 8%, 7-month note. Bx is an appropriate rate for this type of note Mar 31 Sold merchandise to Maddox Co. that had a fair value of $7,636, and accepted a noninterest-bearing note for which $8,200 payment is due on March 31, 2022. Apr 3. Sold merchandise to Carr Co. for $7,302 th teres 3/10, 1/30. Evergreen uses the gross method to account for cash discounts 11 Collected the entire amount due from Carr Co. 17 A customer returned merchandise costing $3,500. Evergreen reduced the customer's receivable balance by 55,300, the sales price of the merchandise. Sales returns are recorded by the company as they occur 30 Transferred receivables of $53,000 to a factor without recourse. The factor charged Evergreen - 26 Finance charge on the receivables transferred. The sale criteris are met. June 30 Discounted the Lennox, Inc., note at the bank. The bank's discount rate is 10%. The note was discounted thout recourse Sep. 30 Lennox, Inc., paid the note amount plus interest to the Bank Required: 1. Prepare the necessary journal entries for Evergreen for each of the above dates for transactions involving the sale of merchandise ignore the entry for the cost of goods sold. 2. Prepare any necessary adjusting entries at December 31, 2021 Adjusting eles are only recorded ot year-end 3. Prepare o schedule showing the effect of the journal entries on 2021 income before taxes Complete this question by entering your answers in the tabs below. Required Required Required a Prepare any necessary adjusting entries at December 31, 2021. Adjusting entries are only recorded at vear-end of notre required for transaction Select Journal arreguired in the first accounts Journal entry worksheet TH Evergreen Company sells lawn and garden products to wholesalers. The company's fiscal year-end is December 31. During 2021, the following transactions related to receivables occurred Feb 28 Sold merchandise to Lennox, Inc., for $12,eee and accepted a 8%, 7-month note. 8x is an appropriate rate for this type of note Mac. al Sold merchandise to Maddox Co. that had a fair value of $7,636, and accepted a noninterest-bearing note for which 58,300 payment is due on March 31, 2022 Apr 3. Sold merchandise to Carr Co. for $7,3ee with terms 3/10, 1/30. Evergreen uses the gross method to account for cash discounts 11 Collected the entire amount due from Carr Co. 17 A customer returned merchandise casting 53,500. Evergreen reduced the customer's receivable balance by $5,300, the sales price of the merchandise. Sales returns are recorded by the company as they occur. 30 Transferred receivables of 553,000 to a factor without recourse. The factor charged Evergreen 3 26 finance charge on the receivables transferred. The sale criteria are met. June 3e Discounted the Lennox, Inc., note at the bank. The bank's discount rate is 10%. The note was discounted without recourse. Sep 30 Lennox, Inc., paid the note amount plus interest to the bank Required: 1. Prepare the necessary Journal entries for Evergreen for each of the above dares For transactions involving the sale of merchandise Ignore the entry for the cost of goods sold 2. Prepare any necessary adjusting entries at December 31, 2021 Adjusting entries are only recorded at year end. 3. Prepare a schedule showing the effect of the journal entries on 2021 Ircome before taxes Complete this question by entering your answers in the tabs below. Requires : Required 2 Required 3 Prepare a schedule showing the effect of the Journal entries on 2021 Income before taxes, Decreases should be indicated o minus igre. Do not found intermediate calculations Pound your final answers to the nece whole do Income Feb More Rom