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Problem 8-6A On January 1, 2017, Crane Company had Accounts Receivable of $57,600 and Allowance for Doubtful Accounts of $3,900 Crane Company prepares financial statements

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Problem 8-6A On January 1, 2017, Crane Company had Accounts Receivable of $57,600 and Allowance for Doubtful Accounts of $3,900 Crane Company prepares financial statements annually. During the year, the following selected transactions occurred: Jan. 5 Sold $3,900 of merchandise to Rian Company, terms n/30. Feb, 2 Accepted a $3,900, 4-month, 10% promissory note from Rian Company for balance due. - Sold $13,140 of merchandise to Cato Company and accepted Cato's $13,140, 2-month, 10% note for the balance due 26 Sold $12,400 of merchandise to Malcolm Co., terms n/10. Apr. 5 Accepted a $12,400, 3-month, 7% note from Malcolm Co. for balance due. 12 Collected Cato Company note in full. June 2 Collected Rian Company note in full. 15 Sold $2,100 of merchandise to Gerri Inc. and accepted a $2,100, 6-month, 12% note for the amount due. Jumle the transactions. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) COUNC Troes and explanation Depic

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