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Problem 13-06A On January 1, 2022, Metlock, Inc. had Accounts Receivable of $50,700 and Allowance for Doubtful Accounts of $3,600, Metlock, Inc. prepares financial statements
Problem 13-06A On January 1, 2022, Metlock, Inc. had Accounts Receivable of $50,700 and Allowance for Doubtful Accounts of $3,600, Metlock, Inc. prepares financial statements annually. During the year, the following selected transactions occurred: Jan. 5 Sold $4,500 of merchandise to Rian Company, terms 1/30. Feb. 2 Accepted a $4,500, 4-month, 9% promissory note from Rian Company for balance due. 12 Sold $9,600 of merchandise to Cato Company and accepted Cato's $9,600, 2-month, 9% note for the balance due 26 Sold $5,100 of merchandise to Malcolm Co., terms 110. Apr. 5 Accepted a $5,100, 3-month, 8% note from Malcolm Co. for balance due. 12 Collected Cato Company note in full June 2 Collected Rian Company note in full. 15 Sold $2,200 of merchandise to Gerri Inc, and accepted a $2,200, 6 month, 11% note for the amount due, Journalize the transactions, (Omit cost of goods sold entries.) (Credit account Ntles are automatically indented when amount is entered. Do not Indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit asmt2688350-N100B2 > Click if you would like to Show Work for this question: Open Show Work
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