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On January 1, 2025, Carla Vista Company had Accounts Receivable of $53,100 and Allowance for Doubtful Accounts of $3,600. Carla Vista Company prepares financial statements
On January 1, 2025, Carla Vista Company had Accounts Receivable of $53,100 and Allowance for Doubtful Accounts of $3,600. Carla Vista Company prepares financial statements annually. During the year, the following selected transactions occurred. Jan. 5 Sold $4,500 of merchandise to Rian Company, terms n/30. Feb. 2 Accepted a $4,500,4-month, 8% promissory note from Rian Company for balance due. 12 Sold $11,520 of merchandise to Cato Company and accepted Cato's $11,520,2-month, 10% note for the balance due. 26 Sold $4,800 of merchandise to Malcolm Co., terms n/10. Apr. 5 Accepted a $4,800,3-month, 8% note from Malcolm Co. for balance due. 12 Collected Cato Company note in full. June 2 Collected Rian Company note in full. 15 Sold $2,100 of merchandise to Gerri Inc. and accepted a $2,100, 6-month, 11\% note for the amount due. Journalize the transactions. (Omit cost of goods sold entries.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit
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