On January 1, 2020, Wildhorse Wholesalers had Accounts Receivable 129,800, Notes Receivable 45,600, and Allowance for Doubtful Accounts 35,000 The note receivable is from Blue Spruce Company It is a 4 month, 8 note dated December 31, 2019 Wildhorse prepares financial statements annually at December 31 During the year, the following selected transactions occurred Jan 5 Sold 41,600 of merchandise to Sheldon Company, terms n 15 20 Accepted Sheldon's 41,600, 3 month, 7 note for balance due Feb 18 Sold 30,400 of merchandise to Patwary Company and accepted Patwarys 30,400, 6 month, 8 note for the amount due Apr 20 Collected Sheldon note in full 30 Received payment in full from Blue Spruce Company on the amount due May 25 Accepted Potter Inc s 25,600, 3 month, 6 note in settlement of a past due balance on account Aug 18 Received payment in full from Patwary on note due 25 The Potter Inc note was dishonored Potter is not bankrupt future payment is anticipated Sept 1 Sold 12,000 of merchandise to Stanbrough Company and accepted a 12,000, 6 month, 9 note for the amount due On January 1, 2020, Wildhorse Wholesalers had Accounts Receivable 129,800, Notes Receivable 45,600, and Allowance for Doubtful Accounts 35,000 The note receivable is from Blue Spruce Company It is a 4 month, 8 note dated December 31, 2019 Wildhorse prepares financial statements annually at December 31 During the year, the following selected transactions occurred Jan 5 20 Sold 41,600 of merchandise to Sheldon Company, terms n 15 Accepted Sheldon's 41,600, 3 month, 7 note for balance due Sold 30,400 of merchandise to Patwary Company and accepted Patwary's 30,400, 6 month, 8 note for the amount due Feb 18 Apr 20 30 May 25 Collected Sheldon note in full Received payment in full from Blue Spruce Company on the amount due Accepted Potter Inc's 25,600, 3 month, 6 note in settlement of a past due balance on account Received payment in full from Patwary on note due The Potter Inc note was dishonored Potter is not bankrupt future payment is anticipated Sold 12,000 of merchandise to Stanbrough Company and accepted a 12,000, 6 month, 9 note for the amount due Aug 18 25 Sept 1

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On January 1, 2020, Wildhorse Wholesalers had Accounts Receivable 129,800, Notes Receivable 45,600, and Allowance for Doubtful Accounts 35,000. The note receivable is from Blue

Jan. 5		Sold 41,600 of merchandise to Sheldon Company, terms n/15.
20		Accepted Sheldon's 41,600, 3-month, 7% note for balance due.
Feb. 18		Sold 30,400 of merchandise to Patwary Company and accepted Patwarys 30,400, 6-month, 8% note for the amount due.
Apr. 20		Collected Sheldon note in full.
30		Received payment in full from Blue Spruce Company on the amount due.
May 25		Accepted Potter Inc.s 25,600, 3-month, 6% note in settlement of a past-due balance on account.
Aug. 18		Received payment in full from Patwary on note due.
25		The Potter Inc. note was dishonored. Potter is not bankrupt; future payment is anticipated.
Sept. 1		Sold 12,000 of merchandise to Stanbrough Company and accepted a 12,000, 6-month, 9% note for the amount due.

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On January 1, 2020, Wildhorse Wholesalers had Accounts Receivable 129,800, Notes Receivable 45,600, and Allowance for Doubtful Accounts 35,000. The note receivable is from Blue Spruce Company. It is a 4-month, 8% note dated December 31, 2019. Wildhorse prepares financial statements annually at December 31. During the year, the following selected transactions occurred. Jan. 5 20 Sold 41,600 of merchandise to Sheldon Company, terms n/15. Accepted Sheldon's 41,600, 3-month, 7% note for balance due. Sold 30,400 of merchandise to Patwary Company and accepted Patwary's 30,400, 6-month, 8% note for the amount due. Feb. 18 Apr. 20 30 May 25 Collected Sheldon note in full. Received payment in full from Blue Spruce Company on the amount due. Accepted Potter Inc's 25,600, 3-month, 6% note in settlement of a past-due balance on account. Received payment in full from Patwary on note due. The Potter Inc. note was dishonored. Potter is not bankrupt; future payment is anticipated. Sold 12,000 of merchandise to Stanbrough Company and accepted a 12,000, 6-month, 9% note for the amount due. Aug. 18 25 Sept. 1