Jordan Couses the allowance method of accounting for uncollectible accounts, Jordan Co, accepted a $5,000, 12%, 90-day note dated May 16, from Beckam Co, in exchange for its past-due account receivable. Make the necessary general journal entries for Jordan Co. on May 16 and the August 14 maturity date, assuming that the note is held until maturity and collected in full at that time. Prepare a table for the journal entries A company purchased and installed machinery on January 1 at a total cost of $97,000. Straight-line depreciation was calculated based on the assumption of a six-year life and $7.000 salvage value. The machinery was disposed of on July 1 of year five. The company uses the calendar year. 1. Prepare the general journal entry to update depreciation to July 1 in year five 2. Prepare the general journal entry to record the sale of the machine for $18.000 cash. Prepare for the underland show your credit