Marin Ltd$.$ started the year with a balance owing from Stratford Inc. of $$31,200.$ After several phone calls, on Feb. $1,2025,$ Stratford offered to sign a $5\%$ note for the balance owing. The note is due May $1,2025.$ Marin has a calendar year end and adjusts its accounts monthly. On May $5,$ Marin Ltd$.$ was notified that Stratford Inc. went bankrupt and would not be paying off its debts.

Required:

Prepare all journal entries and month$-$end adjusting entries from Feb. $1,2025$ to May $5,2025$ for Marin Ltd$.$