On January 1, 2022, Swifty Corporation had Accounts Receivable of $ 51,900 and Allowance for Doubtful Accounts of $ 3,400. Swifty Corporation prepares financial statements annually. During the year, the following selected transactions occurred.
Jan. 5 Sold $ 4,200 of merchandise to Rian Company, terms n/30.
Feb. 2 Accepted a $ 4,200, 4-month, 9% promissory note from Rian Company for balance due.
12 Sold $ 12,600 of merchandise to Cato Company and accepted Cato’s $ 12,600, 2-month, 10% note.
26 Sold $ 5,500 of merchandise to Malcolm Co., terms n/10.
Apr. 5 Accepted a $ 5,500, 3-month, 8% note from Malcolm Co.
12 Collected Cato Company note in full.
June 2 Collected Rian Company note in full.
15 Sold $ 2,200 of merchandise to Gerri Inc. and accepted a $ 2,200, 6-month, 12% note.
Journalize the transactions.
