Journalize the following entries for (1) the buyer and (2) the seller. Record all entries for the buyer first. Both companies use the periodic inventory method. 201X June 11 Lawton Company sold $6,500 of merchandise on account to Ritter Company. July 11 Lawton Company received a 90-day, $5,000, 18% note for a time extension of a past due account of Ritter Company. Oct. 9 Collected the Ritter Company note on the maturity date. 9 Assume Ritter Company defaulted on its July 11 note and record the dishonored note. 15 Ritter Company paid the note receivable that was dishonored on October 9 (no additional interest is charged).