Journal Entries for Accounts and Notes Receivable Dallmus, Inc., began business on January 1. Several transactions for the year follow: Received a $31,800, 60 day, ten percent note on account from the Haskins May 2 Company. Received payment from Haskins for its Jul.1 note plus interest Received a $57,000, 120 day, ten percent Jul. 1 note from R. Longo Company on account. Oct.30 R. Longo failed to pay its note. Wrote off R. Longo's account as uncollectible. Dallmus, Inc., uses the Dec. 9 allowance method of providing for credit losses. Received a $45,000, 90 day, nine percent Dec. 11 note from R. Canal on account. Recorded expected credit losses for the year by an adjusting entry. The Allowance Dec.31 for Doubtful Accounts has a debit balance of $59,600 as a result of accounts written off during this first year. An analysis of aged accounts receivables indicates that the desired balance of the allowance account is $14,600 Made the appropriate adjusting entries Dec.31 for interest. Journal Entries for Accounts and Notes Receivable Dallmus, Inc., began business on January 1. Several transactions for the year follow: Received a $31,800, 60 day, ten percent note on account from the Haskins May 2 Company. Received payment from Haskins for its Jul. 1 note plus interest Received a $57,000, 120 day, ten percent Jul.1 note from R. Longo Company on account. Oct.30 R. Longo failed to pay its note. Wrote off R. Longo's account as uncollectible. Dallmus, Inc., uses the Dec.9 allowance method of providing for credit losses. Received a $45,000, 90 day, nine percent Dec. 11 note from R. Canal on account. Recorded expected credit losses for the year by an adjusting entry. The Allowance Dec.31 for Doubtful Accounts has a debit balance of $59,600 as a result of accounts written off during this first year. An analysis of aged accounts receivables indicates that the desired balance of the allowance account is $14,600 Made the appropriate adjusting entries Dec.31 for interest. Required Record the foregoing transactions and adjustments in general journal form. (Use 360 days for all interest calculations. Round all Interest Income calculations to the nearest dollar.) General Date Description May 2 Received a, 60-day, 10 percent note in payr Jul. 1 Notes Receivable-Haskins Company To record collection of principal and intere! Jul.1 Received a 120-day, 10 percent note in pay Oct 30 Notes Receivable-R. Longo Company To record dishonoring of note by R. Longo Dec. 9 Wrote off R. Longo's account. Dec. 11 Received a 90-day, 9 percent note on accou Dec.31 To record allowance for doubtful accounts. Dec.31 To accrue interest income on December 11