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. 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, n/30, to Pioneer Co. for $17,700. Record the sale net of the discount. The cost of goods sold was $10,600. 21. Loaned $18,000 cash to JR Stutts, receiving a 30-day, 8% note. 25. July 21. Sept. 19. 22. Oct. 14. Nov. 13. Dec. 28. Received from Pioneer Co. the amount due on the invoice of June 15, less 1% discount. Received the interest due from JR Stutts and a new 60-day, 9% note as a renewal of the loan of June 21. (Record both the debit and the credit to the notes receivable account.) Received from JR Stutts the amount due on her note of July 21. Sold merchandise on account to Wycoff Co., $20,000. The cost of goods sold was $12,000. Accepted a 30-day, 6% note for $20,000 from Wycoff Co. on account. Wycoff Co. dishonored the note dated October 14. Received from Wycoff 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. If an amount box does not require an entry, leave it blank. Assume this is a year in which February has 28 days. Jan. 21-sale Jan. 21-cost Mar. 18 May 17 June 15-sales June 15-cost 38 00 00 June 21 83 June 25 July 21 Sept. 19 Sept. 22-sales Sept. 22-cost Oct. 14 Nov. 13 Dec. 28 000 000 00 00 000 000