Transactions:

Dec. $2.$ Drew $$19,200\mathrm{.}00$ from its First Commerce Bank

line of credit. The bank deposited the funds

directly to Franklin's checking account. R$892.$

Received cash for the sale of gift cards, $$860\mathrm{.}00.$

R$893.$

Dec. $4.$ Received an e$-$mail from James Daniels, the legal

counsel for Mattre Enterprises, stating that Mattre

has filed for bankruptcy. Mr$.$ Daniels stated that

it will likely take several years for the bankruptcy

proceedings to be completed. Even then, there is

little chance that Franklin will receive any payment

from Mattre. The Mattre account of $$2,486\mathrm{.}31$ is

over $180$ days past due. M$135.$

Discarded an office desk: original cost, $$1,650\mathrm{.}00$;

estimated salvage value, $$250\mathrm{.}00$; estimated useful

life, $7$ years; total accumulated depreciation through

December $31$ of last year, $$900\mathrm{.}00.$ M$136.$

Customers redeemed gift cards for merchandise,

$$548\mathrm{.}68,$ plus $$27\mathrm{.}43$ sales tax. M$137.$

Purchased at auction the store of a bankrupt

merchandising business. The $$380,000\mathrm{.}00$ purchase

price included land appraised for $$180,000\mathrm{.}00$ and

a building appraised for $$270,000\mathrm{.}00.$ Franklin paid

$$80,000\mathrm{.}00$ down and financed the remainder by

signing a note with First Commerce Bank. C$769.$

May Stenson, owner of May's Mints, stated that she

does not intend to pay the remaining $$45\mathrm{.}50$ of

her bill. May maintains that she did not receive all

the items listed on the sales invoice. Although your

records clearly indicate the correct number of items

was delivered, your manager believes that further

efforts to collect this account could damage your

relationship with a valued customer. M$138.$

GPR Landscape dishonored its $$500\mathrm{.}00,60-$day,

$10\%$ note due today. M$139.$

Paid the maturity value of a $$25,000\mathrm{.}00,180-$day,

$7\mathrm{.}5\%$ note with First Commerce Bank, plus interest.

C$770.$

Wrote a check to City Handyman for parts and labor

to repair equipment under warranty, $$155\mathrm{.}95.C771.$

Earlier in the year, Franklin wrote off the $$1,662\mathrm{.}95$

balance of Dan's Garage. The account was over

$210$ days past due and collection seemed doubtful.

Today, Franklin received a $$1,000\mathrm{.}00$ check from

Dan's Garage. M$140$ and R$894.$