Sullivan Equipment Sales showed the following. 2020 Jan. 15 Sold $25,900 of merchandise for $30,800 to Janco; terms 3/5, n/15. 16 Wrote off Fedun's account in the amount of $15,900. 20 Collected the amount owing from the January 15 sale. Mar. 1 Apr. 15 Accepted a $12,360, 60-day, 7% note dated this day in granting Parker Holdings a time extension on its pastdue account. Sold merchandise costing $62,900 for $72,800 to customers who used their Visa credit cards. Visa charges a 1% fee and deposits the cash electronically into the retailer's account immediately at the time of sale. Parker Holdings honoured the note dated March 1. ? Nov. 1 Accepted a $25,800, three-month, 6% note dated this day in granting Grant Company a time extension on its past-due account. Sullivan's year-end. Interest was accrued on outstanding notes receivable. Dec. 31 31 Bad debts are based on an aging analysis that estimated $9,700 of accounts receivable are uncollectible. Allowance for Doubtful Accounts showed an unadjusted credit balance of $1,690 on this date. 2021 ? Grant Company dishonoured its note dated November 1, 2020. Mar. 5 Recovered $1,500 from Derek Holston that was previously written off. 14 Wrote off the Grant Company account. No Transactions General Journal Debit Credit 1 a. Accounts receivable - JanCo 30,800.00 Sales 30,800.00 2 b. 25,900.00 Cost of goods sold Merchandise inventory 25,900.00 3 C. Allowance for doubtful accounts 15,900.00 Accounts receivable - Fedun 15,900.00 4 d. Cash 25,900.00 X Sales discounts 25,900.00 5 e. 12,360.00 Notes receivable - Parker Holdings Accounts receivable - Parker Holdings - 12,360.00 5 e. 12,360.00 Notes receivable Parker Holdings Accounts receivable - Parker Holdings 12,360.00 6 f. Cash 73,528.00 X Accounts payable - Parker Holdings 72,800.00 72,800.00 Sales 7 g. Cash X x Interest income Notes receivable Parker Holdings 8 h. Accounts receivable Grant Company Journal entry worksheet IIIII III. Record accep Accounts payable - Derek Holston Accounts payable Fedun Accounts payable Grant Company Note: Enter debit Accounts payable - JanCo Accounts payable Parker Holdings Transactions Debit Credit i. Record entry Clear entry View general journal Journal entry worksheet IIIII III. 5 6 7 8 9 Accounts payable - Parker Holdings Record the ac Accounts receivable - Derek Holston Accounts receivable Fedun Accounts receivable Grant Company Note: Enter debit Accounts receivable - JanCo Transactions Accounts receivable Parker Holdings Debit Credit j. Record entry Clear entry View general journal Journal entry worksheet IIIII ILI Income summary Record the re Interest income Interest receivable Merchandise inventory Note: Enter debit Notes payable Grant Company Transactions Debit Credit m. Record entry Clear entry View general journal