ious receivable P8.7 (LO 1, 2, 3) On January 1, 2020, Harter Wholesalers had Accounts Receivable 139,000, Notes Receivable 25,000, and Allowance for Doubtful Accounts 13,200. The note receivable is from Willingham Company. It is a 4-month, 9% note dated December 31, 2019. Harter prepares financial statements annually at December 31. During the year, the following selected transactions occurred. Jan. 5 Sold 20,000 of merchandise to Sheldon Company, terms n/15. 20 Accepted Sheldon's 20,000, 3-month, 8% note for balance due. Feb. 18 Sold 8,000 of merchandise to Patwary Company and accepted Patwary's 8,000, 6-month, 9% note for the amount due. Apr. 20 Collected Sheldon note in full. 30 Received payment in full from Willingham Company on the amount due. May 25 Accepted Potter Inc.'s 6,000, 3-month, 7% note in settlement of a past-due balance on account. Received payment in full from Patwary on note due. 25 The Potter Inc. note was dishonored. Potter is not bankrupt; future payment is anticipated. Sept. 1 Sold 12,000 of merchandise to Stanbrough Company and accepted a 12,000, 6-month, 10% note for the amount due. Aug. 18 Instructions Journalize the transactions. (Omit cost of goods sold entries.)