On November $30,$ Petrov Company has $$125,800$ of accounts receivable and uses the perpetual inventory system.

December $4$ Sold $$5,200$ of merchandise $($that had cost $$3,328)$ to customers on credit, terms $\frac{n}{30}.$

December $9$ Sold $$17,612$ of accounts receivable to Main Bank. Main charges a $6\%$ factoring fee.

December $17$ Received $$2,860$ cash from customers in payment on their accounts.

December $27$ Borrowed $$10,064$ cash from Main Bank, pledging $$13,083$ of accounts receivable as security for the loan.

$(1)$ Prepare journal entries to record the above transactions.

$(2)$ Which transaction would most likely require a note to the financial statements?

Complete this question by entering your answers in the tabs below.

Prepare journal entries to record the above transactions.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Round your answers to

the nearest whole dollar amount.

Journal entry worksheet

Sold $$5,200$ of merchandise to customers on credit, terms $\frac{n}{30}.$

Note: Enter debits before credits.