On January 1, 2025, Cullumber Company had Accounts Receivable of $54,800 and Allowance for Doubtful Accounts of $4,100. Cullumber Company prepares financial statements annually. During the year, the following selected transactions occurred. Jan. 5 Feb. 2 12 26 Apr. 5 12 June 2 15 Sold $4,200 of merchandise to Rian Company, terms n/30. Accepted a $4,200, 4-month, 8% promissory note from Rian Company for balance due. Sold $11,400 of merchandise to Cato Company and accepted Cato's $11,400, 2-month, 10% note for the balance due. Sold $4,700 of merchandise to Malcolm Co., terms n/10. Accepted a $4,700, 3-month, 8% note from Malcolm Co. for balance due. Collected Cato Company note in full. Collected Rian Company note in full. Sold $1,800 of merchandise to Gerri Inc. and accepted a $1,800, 6-month, 12% note for the amount due.