The following were selected from among the transactions completed during the current year by Danix Co , an appliance wholesale company Jan 13 Sold merchandise on account to Black Tie Co , $35,700 The cost of goods sold was $21,420 Mar 10 Accepted a 60 day, 9 note for $35,700 from Black Tie Co on account May 9 Received from Black Tie Co the amount due on the note of March 10 June 10 Sold merchandise on account, terms 1 10, n 30, to Holen for $12,600 Record the sale net of the discount The cost of goods sold was $7,560 15 Loaned $24,000 cash to Pioneer Co , receiving a 30 day, 6 note 20 Received from Holen the amount due on the invoice of June 10, less 1 discount July 15 Received the interest due from Pioneer Co and a new 60 day, 8 note as a renewal of the loan of June 15 (Record both the debit and the credit to the notes receivable account ) Sept 13 Received from Pioneer Co the amount due on its note of July 15 13 Sold merchandise on account toWycoff Co , $60,000 The cost of goods sold was $36,000 Oct 12 Accepted a 60 day, 6 note for $60,000 from Wycoff Co on account Dec 11 Wycoff Co dishonored the note dated October 12 26 Received from Wycoff Co the amount owed on the dishonored note, plus interest for 15 days at 12 computed on the maturity value of the note Required Journalize the entries to record the transactions Assume 360 days in a year For a compound entry, if an amount box does not require an entry, leave it blank Assume this is a year in which February has 28 days Jan 13 sale Accounts Receivable Black Tie Co Sales Jan 13 cost Cost of Goods Sold Inventory Mar 10 Notes Receivable Accounts Receivable Black Tie Co May 9 Cash Notes Receivable Interest Revenue June 10 sale Accounts Receivable Holen Sales June 10 cost Cost of Goods Sold Inventory June 15 Notes Receivable Cash June 20 Cash Accounts Receivable Holen July 15 Notes Receivable Cash Notes Receivable Interest Revenue Sept 13 note Cash Notes Receivable Interest Revenue Sept 13 sale Accounts Receivable Wycoff Co Sales Sept 13 cost Cost of Goods Sold Inventory Oct 12 Notes Receivable Accounts Receivable Wycoff Co Dec 11 Accounts Receivable Wycoff Co Notes Receivable Interest Revenue Dec 26 Cash Accounts Receivable Wycoff Co Interest Revenue

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The following were selected from among the transactions completed during the current year by Danix Co., an appliance wholesale company: Jan. 13. Sold merchandise on

The following were selected from among the transactions completed during the current year by Danix Co., an appliance wholesale company:

Jan. 13.		Sold merchandise on account to Black Tie Co., $35,700. The cost of goods sold was $21,420.
Mar. 10.		Accepted a 60-day, 9% note for $35,700 from Black Tie Co. on account.
May 9.		Received from Black Tie Co. the amount due on the note of March 10.
June 10.		Sold merchandise on account, terms 1/10, n/30, to Holen for $12,600. Record the sale net of the discount. The cost of goods sold was $7,560.
15.		Loaned $24,000 cash to Pioneer Co., receiving a 30-day, 6% note.
20.		Received from Holen the amount due on the invoice of June 10, less 1% discount.
July 15.		Received the interest due from Pioneer Co. and a new 60-day, 8% note as a renewal of the loan of June 15. (Record both the debit and the credit to the notes receivable account.)
Sept. 13.		Received from Pioneer Co. the amount due on its note of July 15.
13.		Sold merchandise on account toWycoff Co., $60,000. The cost of goods sold was $36,000.
Oct. 12.		Accepted a 60-day, 6% note for $60,000 from Wycoff Co. on account.
Dec. 11.		Wycoff Co. dishonored the note dated October 12.
26.		Received from Wycoff Co. the amount owed on the dishonored note, plus interest for 15 days at 12% computed on the maturity value of the note.

Required:

Journalize the entries to record the transactions. Assume 360 days in a year. For a compound entry, if an amount box does not require an entry, leave it blank. Assume this is a year in which February has 28 days.

Jan. 13-sale	Accounts Receivable-Black Tie Co.
	Sales
Jan. 13-cost	Cost of Goods Sold
	Inventory
Mar. 10	Notes Receivable
	Accounts Receivable-Black Tie Co.
May 9	Cash
	Notes Receivable
	Interest Revenue
June 10-sale	Accounts Receivable-Holen
	Sales
June 10-cost	Cost of Goods Sold
	Inventory
June 15	Notes Receivable
	Cash
June 20	Cash
	Accounts Receivable-Holen
July 15	Notes Receivable
	Cash
	Notes Receivable
	Interest Revenue
Sept. 13- note	Cash
	Notes Receivable
	Interest Revenue
Sept. 13-sale	Accounts Receivable-Wycoff Co.
	Sales
Sept. 13-cost	Cost of Goods Sold
	Inventory
Oct. 12	Notes Receivable
	Accounts Receivable-Wycoff Co.
Dec. 11	Accounts Receivable-Wycoff Co.
	Notes Receivable
	Interest Revenue
Dec. 26	Cash
	Accounts Receivable-Wycoff Co.
	Interest Revenue