On June 30, Petrov Co. has $147,000 of accounts receivable. July 4 Sold $6,720 of merchandise (that had cost $4,301) to customers on credit terms n/30. 9 Sold $20,580 of accounts receivable to Main Bank. Main charges a 5% factoring fee. 17 Received $3,696 cash from customers in payment on their accounts. 27 Borrowed $11,760 cash from Main Bank, pledging $15,288 of accounts receivable as security for the loan. Prepare journal entries to record the above selected July transactions. (The company uses the perpetual inventory system.) (Round final amount to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Sold $6,720 of merchandise to customers on credit. Note: Enter debits before credits. General Journal Debit Credit Date July 04 Record entry Clear entry View general journal On June 30, Petrov Co. has $147,000 of accounts receivable. July 4 Sold $6,720 of merchandise (that had cost $4,301) to customers on credit terms n/30. 9 Sold $20,580 of accounts receivable to Main Bank. Main charges a 5% factoring fee. 17 Received $3,696 cash from customers in payment on their accounts. 27 Borrowed $11,760 cash from Main Bank, pledging $15,288 of accounts receivable as security for the loan. Prepare journal entries to record the above selected July transactions. (The company uses the perpetual inventory system.) (Round final amount to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Sold $20,580 of accounts receivable to Main Bank. Main charges a 5% factoring fee. Note: Enter debits before credits. Date General Journal Debit Credit July 09 Record entry Clear entry View general journal On June 30, Petrov Co. has $147,000 of accounts receivable. July 4 Sold $6,720 of merchandise (that had cost $4,301) to customers on credit terms n/30. 9 Sold $20,580 of accounts receivable to Main Bank. Main charges a 5% factoring fee. 17 Received $3,696 cash from customers in payment on their accounts. 27 Borrowed $11,760 cash from Main Bank, pledging $15,288 of accounts receivable as security for the loan. Prepare journal entries to record the above selected July transactions. (The company uses the perpetual inventory system.) (Round final amount to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Received $3,696 cash from customers in payment on their accounts. Note: Enter debits before credits. General Journal Debit Credit Date July 17 Record entry Clear entry View general journal On June 30, Petrov Co. has $147,000 of accounts receivable. July 4 Sold $6,720 of merchandise (that had cost $4,301) to customers on credit terms n/30. 9 Sold $20,580 of accounts receivable to Main Bank. Main charges a 5% factoring fee. 17 Received $3,696 cash from customers in payment on their accounts. 27 Borrowed $11,760 cash from Main Bank, pledging $15,288 of accounts receivable as security for the loan. Prepare journal entries to record the above selected July transactions. (The company uses the perpetual inventory system.) (Round final amount to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Borrowed $11,760 cash from Main Bank. Note: Enter debits before credits. Date General Journal Debit Credit July 27 Record entry Clear entry View general journal On June 30, Petrov Co. has $147,000 of accounts receivable. July 4 Sold $6,720 of merchandise (that had cost $4,301) to customers on credit terms n/30. 9 Sold $20,580 of accounts receivable to Main Bank. Main charges a 5% factoring fee. 17 Received $3,696 cash from customers in payment on their accounts. 27 Borrowed $11,760 cash from Main Bank, pledging $15,288 of accounts receivable as security for the loan. Prepare journal entries to record the above selected July transactions. (The company uses the perpetual inventory system.) (Round final amount to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet
