FOOVIV> 001 L1 1/80/IZOZ FOOVE 1E//1ZOS 12 5 : () : ch8 : : **: 1732 :5 ( 10 ) : - On January 1, 2017, Valdez SA had Accounts Receivable 93,000 and Allowance for Doubtful Act 8,100. Valdez Company prepares financial statements annually at December 31. During the year, the following selected transactions occurred. Feb. 12 Sold 13,500 of merchandise to Marguerite SA and accepted Marguerite's 13,500,2 m 6% note for the balance due. 26 Sold 7,000 of merchandise to Felton Co. terms n/10. Apr. 5 Accepted a 7,000, 3-month, 8% note from Felton Co. for the balance due. Collected Marguerite Company note in full. July Felton Co. dishonors its note of April 5. It is expected that Felton will eventually pay the owed. 15 Sold 11,000 of merchandise to Planke Co. and accepted Planke's 11,000, 3-month, 8 for the amount due. Oct. 15 Planke Co.'s note was dishonored. Planke Co. is bankrupt, and there is no hope of futu settlement Instructions Journalize the transactions. Feb 12 Net Recieroule sto Sales Revenue USOD 1 Feb 260 7000 Account Recoveable Sales Revente 9000 Noles Recieveable