Valley Hardware Supply, Inc., sells on account. When a customer account becomes four months old, Valley Hardware Supply converts the account to a note receivable. During 2018, Valley Hardware Supply completed these transactions:

Jan 29 Sold goods on account to peter's hardware Inc., $6,200. Ignore the cost of goods sold.

Jan 1 Received a $6,200, 60-day, 9% note from Peter's Hardware, Inc., in satisfaction of its past- due account receivable.

Jul 31 Collected the Perter's Hardware, Inc., note at maturity. Use a 360-day year for interest computation and round to the nearest dollar.

1. Record the transactions in Valley Hardware Supply, Inc.'s journal.