More info 2024 Jul. 1 Oct. 31 Dec. 31 Dec. 31 2025 Apr. 1 Jun. 23 Aug. 22 Nov. 16 Dec. 5 Dec. 31 Sold merchandise inventory to Go-Mart, receiving a $43,000, nine-month, 12% note. Ignore Cost of Goods Sold. Recorded cash sales for the period of $17,000. Ignore Cost of Goods Sold. Made an adjusting entry to accrue interest on the Go-Mart note. Made an adjusting entry to record bad debt expense based on an aging of accounts receivable. The aging schedule shows that $13,500 of accounts receivable will not be collected. Prior to this adjustment, the credit balance in Allowance for Bad Debts is $10,500. Collected the maturity value of the Go-Mart note. Sold merchandise inventory to Ambiance, Corp., receiving a 60-day, 6% note for $13,000. Ignore Cost of Goods Sold. Ambiance, Corp. dishonored its note at maturity; the business converted the maturity value of the note to an account receivable. Loaned $18,000 cash to Crane, Inc., receiving a 90-day, 8% note. Collected in full on account from Ambiance, Corp. Accrued the interest on the Crane, Inc. note. Resting Recliner Chairs completed the following selected transactions: (Click the icon to view the transactions.) Record the transactions in the journal of Resting Recliner Chairs. Explanations are not required. (Round to the nearest dollar.) (Record debits first, then credits. Exclude e entries. For notes stated in days, use a 365-day year.) Begin with the transactions for 2024. Jul. 1: Sold inventory to Go-Mart, receiving a $43,000, nine-month, 12% note. Ignore Cost of Goods Sold. Date 2024 Jul. 1 Accounts Debit Credit