More Info 2024 Jul. 1 Oct. 31 Dec. 31 Dec. 31 2025 Apr. 1 Jun. 23 Aug. 22 Sold merchandise inventory to Green-Mart, receiving a $45,000, nine-month. 14% note. Ignore Cost of Goods Sold. Recorded cash sales for the period of $23,000. Ignore Cost of Goods Sold. Made an adjusting entry to accrue interest on the Green-Mart note. Made an adjusting entry to record bad debt expense based on an aging of accounts receivable. The aging schedule shows that $14,600 of accounts receivable will not be collected. Prior to this adjustment, the credit balance in Allowance for Bad Debts is $11,400. Collected the maturity value of the Green-Mart note. Sold merchandise inventory to Artist, Corp., receiving a 60-day, 9% note for $13,000. Ignore Cost of Goods Sold. Artist, Corp. dishonored its note at maturity; the business converted the maturity value of the note to an account receivable. Loaned $18,000 cash to Creed, Inc., receiving a 90-day, 12% note. Nov. 16 Dec. 5 Dec. 31 Accrued the interest on the Creed, Inc. note. Collected in full on account from Artist, Corp. Print Done