Instructions

The following were selected from among the transactions completed by Caldemeyer Co during the current year Caldemeyer sells and installs home and business security systems

Jan. $3$ Loaned $$18,000$ cash to Trina Gelhaus, receiving a $90-$day, $8\%$ note.

Feb. $10$ Sold merchandise on account to Bradford & Co$,$ $$24,000$ The cost of goods sold was $$14,400$

$13$ Sold merchandise on account to Dry Creek Co$,$ $$60,000.$ The cost of goods sold was $$54,000$

Mar. $12$ Accepted a $60-$day, $7\%$ note for $$24,000$ from Bradford & Co on account

$14$ Accepted a $60-$day, $9\%$ note for $$60,000$ from Dry Creek Co$.$ on account.

Apr. $3$ Received the interest due from Trina Gelhaus and a new $120-$day, $9\%$ note as a renewal of the loan of January $3($Record both the debit and the credit to the notes receivable account$)$

May $11$ Received from Bradford & Co the amount due on the note of March $12.$

$13$ Dry Creek Co dishonored its note dated March $14$

July $12$ Received from Dry Creek Co the amount owed on the dishonored note, plus interest for $60$ days at $12\%$ computed on the maturity value of the note.

Aug $1$ Received from Trina Gelhaus the amount due on her note of April $3.$

Oct $5$ Sold merchandise on account, terms $\frac{n}{30},$ to Halloran Co$,$ $$13,500$ The cost of goods sold was $$8,100$

$15$ Received from Halloran Co the amount of the invoice of October $5$

Required:

Journalize the entries to record the transactions. Assume a $360-$day year. Assume this is a year in which February has $28$ days.