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Prepare journal entries to record the following transactions entered into by Sandhill Company: (Credit account titles are automatically indented when the amount is entered. Do
Prepare journal entries to record the following transactions entered into by Sandhill Company: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) 2020 June 1 Received a $12,000, 12%, 1-year note from Andrea Foley as full payment on her account. Nov. 1 Sold merchandise on account to Patton, Inc. for $14,400, terms 2/10, n/30. Nov. 5 U Patton, Inc. returned merchandise worth $1,200 Nov. 9 Received payment in full from Patton, Inc. Dec. 31 Accrued interest on Foley's note. 2021 June 1 Andrea Foley honored her promissory note by sending the face amount plus interest. No interest has been accrued in 2021. Date Account Titles and Explanation Debit Credit 2020 June 1 > 12.000 12,000 Nov. 1 Nov. 5 Nov. 9 Dec. 31 2021 June 1 >
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