Property rented under a contract is called aOn November $30,$ Petrov Company has $$141,700$ of accounts receivable and uses the perpetual inventory system.

December $4$ Sold $$9,975$ of merchandise $($that had cost $$6,384)$ to customers on credit, terms n$/30.$

December $9$ Sold $$19,838$ of accounts receivable to Main Bank. Main charges a $6\%$ factoring fee. please help $,$ run of time.

December $17$ Received $$5,486$ cash from customers in payment on their accounts.

December $27$ Borrowed $$11,336$ cash from Main Bank, pledging $$14,737$ of accounts receivable as security for the loan.

$(1)$ Prepare journal entries to record the above transactions.

$(2)$ Which transaction would most likely require a note to the financial statements?

Complete this question by entering your answers in the tabs below.

Required $1$

Prepare journal entries to record the above transactions.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Round your answers to

the nearest whole dollar amount.

Journal entry worksheet

Sold $$9,975$ of merchandise to customers on credit, terms $\frac{n}{30}.$