Problem 8-1 Listed below are some of the transactions of the Oates Co. May 1 May 10 May 20 June 19 July 20 Sold merchandise to Williams Co. $750, n/10 Received payment in full from Williams Co., $750. Accepted a $1,500, 30 day, 16% note from Rexl Co. for sale. Rexl Co. dishonored the note. Accepted a $3,000 60-day, 16% note from Samson Firm in extension of time on previous sale. Sold merchandise to ABC Co. $200, n/10. Received payment in full from Samson Firm for July 20, $3,000 sale. Wrote off the Rexl Co. dishonored note from May 20 sale. Aug. 2 Sept. 1 Nov. 3 Required: Assume the Oates Co. uses the allowance method to write off accounts. 1.) Prepare general journal entries for the transactions