Relaxing Recliner Chairs completed the following selected transactions (Click the icon to view the transactions.) Record the transactions in the journal of Relaxing Recliner Chairs. Explanations are not required. (Round to the nearest dollar.) (Record debits first, then credits. Exclude explanations from journal entries. For notes stated in days, use a 365-day year) More info Begin with the transactions for 2024. Jul 1: Sold inventory to Go - Mart, receiving a $38,000, nine-month, 14% note. Ignore Cost of Goods Sold, 2024 Jul. 1 Date Accounts Debit Credit Oct. 31 2024 Dec, 31 Sold merchandise inventory to Go-Mart, receiving a $38,000 nine month, 14% note Ignore Cost of Goods Sold Recorded cash sales for the period of $21,000. Ignore Cost of Goods Sold Made an adjusting entry to accrue interest on the Go-Mart note. Made an adjusting entry to record bad debt expense based on an aging of accounts receivable. The aging schedule shows that $14.900 of accounts receivable will not be collected Prior to this adjustment, the credit balance in Allowance for Bad Debts is $11,200 Jul 1 Dec. 31 2025 Apr. 1 Jun. 23 Aug. 22 Collected the maturity value of the Go-Mart note Sold merchandise inventory to Artist, Corp., receiving a 60-day, 6% note for $9.000. Ignore Cost of Goods Sold Artist Corp dishonored its note at maturity, the business converted the maturity value of the note to an account receivable Loaned $21 000 cash to Creed, Inc., receiving a 90-day 10% note Collected in full on account from Artist, Corp Accrued the interest on the Creed Inc note Nov. 16 Dec. 5 Dec. 31 Print Done Clear all