Sales and Notes Receivable Transactions The following were selected from among the transactions completed during the current year by Danix Co., an appliance wholesale company: Jan. 21. Sold merchandise on account to Black Tie Co., 528,000. The cost of goods sold was 516,800 Mar. 18 Accepted a 60-day, 6% note for $28,000 from Black Tie Co, on account. May 17. Received from Black Tie Co, the amount due on the note of March 18. June 15. Sold merchandise on account, terms 1/10, 1/30, to Pioneer Co. for 517,700. Record the sale net of the discount. The cost of goods sold was $10,600. 21. Loaned $18,000 cash to R Stutts, receiving a 30-day, 8% note. 25 Received from Pioneer Co. the amount due on the invoice of June 15, less 15 discount. Received the interest due from R Stutts and a new 60 day, 9% note as a renewal of the loan of June 21. (Record July 21 both the debit and the credit to the notes receivable account) Sept. 19 Received from JR Stutts the amount due on her note of July 21 22 Sold merchandise on account to Wycoff Co, $20,000. The cost of goods sold was $12,000. Oct. 14. Accepted a 30-day, 6% note for $20,000 from Wycoff Co, on account Nov. 13. Wycoff Co. dishonored the note dated October 14 Received from Wycoff Co the amount owed on the dishonorednote, plus interest for 45 days at 8% computed on the Dec. 28. maturity value of the note. Required: Journalize the entries to record the transactions. Assume 360 days in a year. For a compound entry, if an amount box does not require ankthan which February has 25 days. Jan 21 sale Required: Journalire the entries to record the transactions. Assume 360 days in a year for a compound entry, an amount box does not entry leave it in this year which February has 28 days Jan. 21 Sale Jan. 21-cost Mar. 18 > > May 12 June 15-sale June 15-rout eBook June 21 June 25 July 21 I II 1101 III I I O 111 0000 000 Sept. 19- note kale Sept. 22-sale Sept. 22-cost Oct. 14 Check My Work uses remaining Sept. 19- note Sept. 22-sale TUTTI Sept. 22-cost lll lll l l l lll alebo III III ] Oct. 14 Nov. 13 Dec. 28