On November 30, Petrov Co. has $125.300 of accounts receivable and uses the perpetual inventory system Dec. 4 Sold $8,535 of merchandise (that had cost 55, 462) to customers on credit, teras 1/30. 9 Sold $17,542 of accounts receivable to Main Bank. Main charges a 10x factoring fee. 17 Received $4,694 cash from customers in payment on their accounts. 27 Borrowed $18,024 cash from Main Bank, pledging 513,031 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. Required 1 Required 2 Prepare journal entries to record the above transactions. (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.) View transaction list Journal entry worksheet 2 3 5 Sold 58.535 of merchandise to customers on credit, terms 1/30, Note debits before Debit Credit General Journal Date Dec 04 On November 30, Petrov Co. has $125,300 of accounts receivable and uses the perpetual inventory system Dec. 4 Sold $8,535 of merchandise (that had cost $5,462) to customers on credit, terms 1/30 9 Sold $17,542 of accounts receivable to Main Bank. Main charges a lex factoring fee. 17 Received $4,694 cash from customers in payment on their accounts. 27 Borrowed sie,824 cash from Main Bank, pledging $13,031 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? On November 30, Petrov Co. has $125.300 of accounts receivable and uses the perpetual inventory system. Dec. 4 Sold $8,535 of merchandise (that had cost $5,462) to customers on credit, terms n/38. 9 Sold $17,542 of accounts receivable to Main Bank. Main charges a 10x factoring fee. 17 Received $4,694 cash from customers in payment on their accounts. 27 Borrowed $10,824 cash from Main Bank, pledging $13,031 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. Required 1 Required 2 Which transaction would most likely require a note to the financial statements? Which transaction would most fikely require a note to the financial statements?
