Question
Qucation On January 1, 2022, Wildhorse Co. had Accounts Receivable of $49,000 and Allowance for Doubtful Accounts of $3,700. Wildhorse. Co. prepares financial statements
Qucation On January 1, 2022, Wildhorse Co. had Accounts Receivable of $49,000 and Allowance for Doubtful Accounts of $3,700. Wildhorse. Co. prepares financial statements annually. During the year, the following selected transactions occurred. Jan. 5 Sold $3,600 of merchandise to Rian Company, terms n/30 Feb.2 12 Accepted a $3,600, 4-month, 9% promissory note from Rian Company for balance due. Sold $12,000 of merchandise to Cato Company and accepted Cato's $12,000, 2-month, 10% note. 26 Sold $5,200 of merchandise to Malcolm Co., terms n/10. Accepted a $5,200, 3-month, 8% note from Malcolm Co. Apr. 5 12 June 2 15 Collected Cato Company note in full. Collected Rian Company note in full. Sold $2,000 of merchandise to Gerri Inc. and accepted a $2,000, 6-month, 12% note. Journalize the transactions. (Omit cost of goods sold entries.) (Do not round intermediate calculations. Round final answers to O decimal places, eg. 5,275. Credit account titles are automatically indented when amount is entered. Do not Indent manually. If no entry is required
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