Question 17 of 20 -/16 View Porces Current Attempt in Progress Sheridan Flooring has a December 31 year end and uses the perpetual inventory system. Sheridan does not expect any sales returns. The following transactions occurred during 2021 and 2022: 2021 Aug. 30 Oct. 18 Sold goods with a cost of $8,900 to Jules Harrison for $15,200 on account, terms 2/15,6/30. Jules ran into some financial troubles and reached an agreement with Sheridan to convert the account receivable into a 90-day, 8% note receivable. Sold goods with a cost of $1,980 to Flore Hardy for $3.600 on account, terms 2/15,n/30. Prepared the adjusting entries to record accrued interest and an estimated allowance for doubtful accounts of $3.170. For the interest calculation use the exact number of days. Dec. 18 Dec. 31 2022 Jan. Jan 16 2 Collected the amount due from Flore. Jules dishonoured the note receivable. Sheridan expects to collect the account Wrote off the amount owing from Jules. Dec. 31 Question 17 of 20 -/16 E Prepare all required journal entries for the above transactions assuming Sheridan uses the allowance method and Allowance for Doubtful Accounts does not have an opening balance. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Use 365 days for calculation.) Account Titles and Explanation Debit Credit Date 2021 (To record sale on account.) (To record cost of goods sold.) (To record sale on account.) (To record cost of goods sold.) (To record allowance for doubtful accounts.) 2022