Question 10 Question Completion Status: Anderson Company had the following transactions during January 2020 and uses a perpetual inventory method. Anderson uses the Allowance for Doubtful adjusting entries are recorded on January 31 Jan 1 Jan 3 Jan 4 Jan 7 Jan 8 Jan 12 Signed a $40,000, 8-month, 5%-interest-bearing note payable to Brank Bank & Trust and receives $40,000 in cash. Performed services for customers who had made advanced payments of $6,500. Sold inventory for $19,500 on account to Ashley Company. The inventory cost $18,000. The terms of the sale are 1/10, n/30. Purchased inventory for $10,500 on account from Meg Company. The terms of the purchase are 3/10, n/30. Purchased equipment from Drome Inc. paying $10,000 in cash and signing an 8%, 4-month, $20,000 note Sold inventory for $18,000 for cash that cost $16,000. Jan 13 Received full payment from Ashley for the sale on January 4. Jan 14 Wrote off an uncollectible account in the amount of $4,000. Jan 16 Issued an 8%, 6-month, $14,000 note to Daffy Company in payment of account Jan 17 Paid full balance for the January 7th purchase. Recovered $1,000 from a previous uncollectible account Jan 19 Jan 21 Sold inventory for $3,500 to Cooper. The inventory cost $1,400. Cooper paid with his Bank of America credit card. The bank charges a 1% service c Instructions: Prepare the joumal entries for the transactions above. Date Account Title 1- Jan 3 Jan Debit Credit