On July 31. Konrad International had $125.900 of accounts receivable. Prepare journal entries to record the following August transa Also, prepare any footnotes to the August 31 financial statements that should be reported as a result of these transactions Aug. 2020 2 Sold merchandise to customers on credit. $6.295. Cost of sales was $3,150. 7 Sold $18,770 of accounts receivable to Fidelity Bank. Fidelity charges a 1.5% fee. 15 Received payments from customers, 53.436. 25 Borrowed $10,000 from Fidelity Bank, pledging $14.000 of accounts receivable as security for the loan At the end of its annual accounting period. Midi Company estimated its bad debts as 0.70% of its $1,700.000 of credit sales made during the year. On December 31, Midi made an addition to its Allowance for Doubtful Accounts equal to that amount. On the following February 1 management decided that the $2.400 account of Catherine Hicks was uncollectible and wrote it off as a bad debt. Four mouths later, on June 5. Hicks unexpectedly paid the amount previously written off. Give the journal entries required to record these transactions