Sullivan Equipment Sales showed the following. 2023 Jan. 15 Sold $25,000 of merchandise for $29,000 to JanCo; terms 3/5, n/15. 16 Wrote off Fedun's account in the amount of $15,000. Mar. Apr. Nov. 20 Collected the amount owing from the January 15 sale. 1 Accepted a $12,000, 60-day, 7% note dated this day in granting Parker Holdings a time extension on its past-due account. 15 Sold merchandise costing $62,000 for $71,000 to customers who used their Visa credit cards. Assume 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. ? 1 Accepted a $24,000, three-month, 6% note dated this day in granting Grant Company a time extension on its past-due account. Dec. 31 Sullivan's year-end. Interest was accrued on outstanding notes receivable. 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 $1,600 on this date. 2024 ? Grant Company dishonoured its note dated November 1, 2023. 5 Recovered $1,500 from Derek Holston that was previously written off. 14 Wrote off the Grant Company account. Mar. Required: a. Determine the maturity dates of the March 1 and November 1 notes. Date of Note March 1 November 1 Maturity Date

Sullivan Equipment Sales showed the following 2023 Jan. 15 Sold $25,000 of merchandise for $29,009 to Janco; teras 3/5,n/15. 16 Wrote off Fedun's account in the asount of $15,000. 20 collected the amount owing froe the January 15 sale. Mar. 1 Accepted a $12,000,60-day, 7 note dated this day in Branting Parker Holdings a time extension on its past-due account. Apr. 15 Sold merchandise costing $62,000 for $71,000 to custoners who used their Visa credit cards. Assume Visa charges a 1x fee and deposits the cash electranlcally into the retaller's account imediately at the tine of sale. ? Parker Holdings honoured the note dated March 1. Nov. 1 Accepted a 524,600 , three-month, 6x note dated this day in granting Grant Conpany a tine extension on its past-due account. Dec. 31 Sullivan's year-end. Interest was accrued on outstanding notes receivable. 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 $1,600 on this date. 2024 ? Grant Coepany dishonoured its note dated Noveeber 1, 2023. Mar. 5 Recovered \$1, soe from Derek Holston that was prevlously written off. 14 Wrote off the Grant Company account. Required: a. Determine the maturity dates of the March 1 and November 1 notes. Record the credit sales; terms 3/5,n/15. 2. Record the cost of sales. 3 Record the write-off of uncollectible accounts. 4 Record the collection of credit sale within the discount period. 5 Record acceptance of 60 -day, 7% note. 6 Record the credit card sale. 7 Record the cost of sales. Note : O= journal entry has been entered Analysis Component Sulivar's receivable turnovers at December 31,2023 and 2024 were 7 and 75 , respectively. Select the correct option for whether the change in the ratio for Sullivan was favourable or unfavourable