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

Jan. 21.	Sold merchandise on account to Black Tie Co., $28,000. The cost of merchandise sold was $16,800.
Mar. 18.	Accepted a 60-day, 6% note for $28,000 from Black Tie Co. on account.
May 17.	Received from Black Tie Co. the amount due on the note of March 18.
June 15.	Sold merchandise on account to Pioneer Co. for $17,700, net/30. The cost of merchandise sold was $10,600.
21.	Loaned $18,000 cash to JR Stutts, receiving a 30-day, 8% note.
25.	Received from Pioneer Co. the amount due on the invoice of June 15.
July 21.	Received the interest due from JR Stutts and a new 60-day, 9% note as a renewal of the loan of June 21. (Record both the debit and the credit to the notes receivable account.)
Sept. 19.	Received from JR Stutts the amount due on her note of July 21.
22.	Sold merchandise on account to Wycoff Co., $20,000. The cost of merchandise sold was $12,000.
Oct. 14.	Accepted a 30-day, 6% note for $20,000 from Wycoff Co. on account.
Nov. 13.	Wycoff Co. dishonored the note dated October 14.
Dec. 28.	Received from Wycoff Co. the amount owed on the dishonored note, plus interest for 45 days at 8% computed on the maturity value of the note.

CHART OF ACCOUNTSDanix Co.General Ledger

	ASSETS
110	Cash
111	Petty Cash
121	Accounts Receivable-Black Tie Co.
122	Accounts Receivable-JR Stutts
123	Accounts Receivable-Pioneer Co.
124	Accounts Receivable-Wycoff Co.
129	Allowance for Doubtful Accounts
131	Interest Receivable
132	Notes Receivable
141	Merchandise Inventory
145	Office Supplies
146	Store Supplies
151	Prepaid Insurance
181	Land
191	Store Equipment
192	Accumulated Depreciation-Store Equipment
193	Office Equipment
194	Accumulated Depreciation-Office Equipment

	LIABILITIES
210	Accounts Payable
211	Salaries Payable
213	Sales Tax Payable
214	Interest Payable
215	Notes Payable

	EQUITY
310	Common Stock
311	Retained Earnings
312	Dividends
313	Income Summary

	REVENUE
410	Sales
420	Sales Discounts
610	Interest Revenue

	EXPENSES
510	Cost of Merchandise Sold
520	Sales Salaries Expense
521	Advertising Expense
522	Depreciation Expense-Store Equipment
523	Delivery Expense
524	Repairs Expense
529	Selling Expenses
530	Office Salaries Expense
531	Rent Expense
532	Depreciation Expense-Office Equipment
533	Insurance Expense
534	Office Supplies Expense
535	Store Supplies Expense
536	Credit Card Expense
537	Cash Short and Over
538	Bad Debt Expense
539	Miscellaneous Expense
710	Interest Expense

1 2 4 S 6 9 10 16 DATE DESCRIPTION Jan. 21 Accounts Receivable-Black Tie Co. Sales Jan. 21 Cost of Merchandise Sold Merchandise Inventory Mar. 18 Notes Receivable Accounts Receivable-Black Tie Co. May 17 Cash Interest Revenue Notes Receivable Jun. 15 Accounts. Receivable-Pioneer Co. Sales Jun. 15 Cost of Merchandise Sold Merchandise Inventory Jun. 21 Notes Receivable Cash Jun. 25 Cash Interest Receivable JOURNAL POST. REF. Score: 417/448 DEBIT CREDIT 28,000.00 28,000.00 16,800.00 16,800.00 28,000.00 28,000.00 28,280.00 280.00 28,000.00 17,700.00 17,700.00 10,600.00 10,600.00 18,000.00 18,000.00 17,700.00