The balance sheet of Marigold Company at December 31, 2019, includes the following.

Notes receivable		$41,600
Accounts receivable		185,100
Less: Allowance for doubtful accounts		18,600		$208,100

Transactions in 2020 include the following.

1.		Accounts receivable of $143,400 were collected including accounts of $60,300 on which 4% sales discounts were allowed.
2.		$5,590 was received in payment of an account which was written off the books as worthless in 2019.
3.		Customer accounts of $18,800 were written off during the year.
4.		At year-end, Allowance for Doubtful Accounts was estimated to need a balance of $27,200. This estimate is based on an analysis of aged accounts receivable.

Prepare all journal entries necessary to reflect the transactions above. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

On October 1, 2020, Marin Equipment Company sold a pecan-harvesting machine to Valco Brothers Farm, Inc. In lieu of a cash payment Valco Brothers Farm gave Arden a 2-year, $150,800, 10% note (a realistic rate of interest for a note of this type). The note required interest to be paid annually on October 1. Marins financial statements are prepared on a calendar-year basis. Assuming Valco Brothers Farm fulfills all the terms of the note, prepare the necessary journal entries for Marin Equipment Company for the entire term of the note. Assume that reversing entries are not made on January 1, 2021 and January 1, 2022. (Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

(To record the collection of interest)
	(To record the collection of the note)

No. Account Titles and Explanation 1. 2. (To reinstate the accounts receivable) (To record the collection on account) 3. 4. Debit Credit Date