The following selected transactions occurred for Lawn Corporation. The company uses a perpetual inventory system, has a June $30$ year end, and adjusts its accounts annually.

Jan. $5$ Sold $$12,600$ of merchandise costing $$6,300$ to Nolet Company and accepted Nolet's four$-$month, $4\%$ note in payment. Interest is due at maturity.

$28$ Sold, on account $(\frac{n}{30}),$ $$8,400$ of merchandise that cost $$6,900$ to Poulin Limited.

$31$ Sold $$13,200$ of merchandise to Lavigne Corp., terms $\frac{n}{30}.$ The cost of the merchandise sold was $$11,700.$

Mar. $1$ Sold merchandise for $$10,400$ on account $(\frac{n}{30})$ to JP Ltd$.$ The cost of goods sold was $$7,000.$

$2$ Accepted a three$-$month, $5\%,$$$13,200$ note from Lavigne in settlement of its account. $($See January $31$ transaction.$)$ Interest is due at maturity.

May $5$ Collected the Nolet note in full. $($See January $5$ transaction.$)$

June $4$ The Lavigne note of March $2$ was dishonoured. It is expected that Lavigne will eventually pay the amount owed.

$30$ Recorded accrued interest for outstanding receivables overdue from Poulin and JP$.$ Interest on unpaid receivables is charged at $36\%$ per annum $(3\%$ per month$).($See January $28$ and March $1$ transactions.$)$ Use simple interest calculation.

Record the above transactions. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.$)$

Account Titles and Explanation

Debit

Credit

$($To record sales$)$

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