Prepare the necessary journal entries for the following transactions for Sheridan $CO.($Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record jo'rnal entries in the order presented in the problem. List all debit entries before credit entries.$)$

May $25$ Sheridan Co$.$ received a $$21,000,2-$month, $6\%$ note from Bolt Company in settlement of an account receivable.

July $25$ Sheridan Co$.$ received payment on the Bolt note.

Date

Account Titles and Explanation

Debit

Credit

Notes Receivable

Accounts Receivable