Sherldan Company follows A$.$SPE. It manufactures sweatshirts for sale to athletlc$-$wear retallers. The following summary Information

was avallable for Sherldan for the year ended December $31,2022$:

$($a$)$

Part $1$

Durling $2023,$ sherldan had the following transactions:

Total sales were $$465,000.$ Of the total sales amount, $$285,000$ was on a credit basls.

On June $30,2$$$60,000$ account recelvable of a major customer was settled, with Sheridan accepting a $$60,000,$ one$-$year,

$10\%$ note, wh the interest payable at maturlty.

Sheridan collected $$190,000$ on accounts recelvable durling the year.

At December $31,2023,$ Cash had a balance of $$17,000,$ Inventory had a balance of $$85,000,$ Accounts Payable was

$$73,000,$ and Accrued Llablilitles was $$17,000.$

Prepare summary journal entrles to record the items noted above. $($Round answers to $0$ decimal places, e$.$g$.8,971.$ Credit account

titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the

occount titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

No$.$ Account Titles and Explanation

Debit

Credit

$($To record sales revenue$)$

$($To record notes recelvable$)$

$($To record cash recelved$]$

$($Torecordsales revenue$)$