On January 1, 2025, Crane Company had Accounts Receivable of $54,800 and Allowance for Doubtful Accounts of $3,400. Crane Company prepares financial statements annually. During the year, the following selected transactions occurred. Jan. 5 Sold $3,900 of merchandise to Rian Company, terms n/30. Feb. 2 Accepted a $3,900, 4-month, 8% promissory note from Rian Company for balance due. 12 Sold $10,200 of merchandise to Cato Company and accepted Cato's $10,200, 2-month, 10% note for the balance due. 26 Sold $5,700 of merchandise to Malcolm Co., terms n/10. Apr. 5 Accepted a $5,700, 3-month, 8% note from Malcolm Co. for balance due. 12 June 2 15 Collected Cato Company note in full. Collected Rian Company note in full. Sold $2,000 of merchandise to Gerri Inc. and accepted a $2,000, 6-month, 13% note for the amount due.