Marydale Products permits its customers to defer payment by giving personal notes instead of cash. All the notes bear interest and require the customer to pay the entire note in a single payment 6 months after issuance. Consider the following transactions, which describe Marydale's experience with two such notes: On October 31, 2019, Marydale accepts a 6-month, 12 % note from Customer A in lieu of a $4,800 cash payment for services provided that day. a On February 28, 2020, Marydale accepts a 6-month, $1,200, 8 % note trom Customer B in lieu of a $1,200 cash payment for services provided b. on that day On April 30, 2020, Customer A pays the entire note plus interest in cash c On August 31, 2020, Customer B pays the entire note plus interest in cash. d Required: Prepare the necessary journal and adjusting entries required to record Transactions a through d in Marydale's r Problem 5-87A (Algorithmic) Ratio Analysis Selected information from Bigg Company's financial statements follows: Fiscal Year Ended December 31 2017 2019 2018 (in thousands) $1,937,021 $1,835,987 Gross sales $2,004,719 4,406 4,649 Less: Sles discounts 4,811 2,324 2,203 2,406 Less: Sales returns and allowances $1,930,048 $1,829,378 $1,997,502 Net sales 660,955 621,463 619,847 Cost of goods sold $1,376,039 $1,310,201 $1,168,423 Gross profit 577,369 595,226 583,555 Operating expenses $798,670 $714,975 $584,868 Operating income (5,300) 15,973 (8,773) Other income (expenses) $814,643 $709,675 $576,095 Net income At December 31 2019 2018 2017 (in thousands)