On January 1, 2020, Novak Corp. had Accounts Receivable $140,800, Notes Receivable $24,000, and Allowance for Doubtful Accounts $12,300. The note receivable is from Willingham Company. It is a 4-month, 9% note dated December 31, 2019. Novak Corp. prepares financial statements annually at December 31. During the year, the following selected transactions occurred.

Jan. 5		Sold $18,200 of merchandise to Sheldon Company, terms n/15.
20		Accepted Sheldon Companys $18,200, 3-month, 8% note for balance due.
Feb. 18		Sold $6,400 of merchandise to Patwary Company and accepted Patwarys $6,400, 6-month, 9% note for the amount due.
Apr. 20		Collected Sheldon Company note in full.
30		Received payment in full from Willingham Company on the amount due.
May 25		Accepted Potter Inc.s $4,400, 3-month, 7% note in settlement of a past-due balance on account.
Aug. 18		Received payment in full from Patwary Company on note due.
25		The Potter Inc. note was dishonored. Potter Inc. is not bankrupt; future payment is anticipated.
Sept. 1		Sold $10,400 of merchandise to Stanbrough Company and accepted a $10,400, 6-month, 10% note for the amount due.

Journalize the above transactions. The company uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 50-year life and no salvage value. The equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement