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. $28,000. The cost of goods sold was $16,800, Mar. 15. Accepted a 60-day, 6% note for $28,000 from Black Tie Co, on account May 17. Received from Black The Co. the amount due on the note of March 18. June 15. Sold merchandise on account, terms 1/10, 130, to Pioneer Co. for $17,700. Record the sale net of the discount. The cost of goods sold was $10,600. 21. Leaned $18,000 cash to R Stutts, receiving a 30-day, 8% note. 25. Received from Poneer Co. the amount due on the invoice of June 15, less 15 discount Received the interest due from JR Stutts and a new 60 day. 94 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 IR Stutts the amount due on her note of July 21. 22. Sold merchandise on account to Wycolf 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. Dec. 28. Received from Wycoft Co the amount owed on the dishonored note, plus interest for 45 days at 8% computed on the maturity value of the note. Required: Journalize the entries to record the transactions. Assume 360 days in a year. For a compound entry, an amount box does not require an entry leave it blank. Asume this is a ver which February has 28 days Accounts Receivable-Black Tie Co. 28.000 len eBook Sales 28,000 Jan. 21-cost Cost of Goods Sold 16,000 Inventory 16,000 Mar. 18 Notes Receivable 28,000 Accounts Receivable-Black Tie Co. 28.000 May 17 Cash 28,280 Notes Receivable 28,000 Interest Revenue 280 June 15-sale Accounts Receivable-Pioneer Co. 17,523 Sales 17,523 10,600 June 15-cost Cost of Goods Sold 10.600 Inventory Notes Receivable 18,000 June 21 18,000 Cash 17,523 Cash June 25 17.523 eBook July 21 Sept. 19- note Sept. 22-sale Sept. 22-cost Oct. 14 Nov. 13 Sept. 19- note Sept. 22-sale Sept. 22-cost III III I II III III III I II III Oct. 14 Nov. 13 Dec. 28