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The following were selected from among the transactions computed during the current year by Danix co., an appliance wholesale company: Jan. 21. Sold merchandise on

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The following were selected from among the transactions computed during the current year by Danix co., an appliance wholesale company: Jan. 21. Sold merchandise on account to black tic 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. 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, less l/o discount. July 21. Received the interest due from JR Stutts and a new 60-day, 9/o note as a renew 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 cos, 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 owned for 45 days at 8% computed on the maturity value of the

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