On January 1 2017 Harvee Company had Accounts

Receivable of #6295
On January 1, 2017, Harvee Company had Accounts Receivable of $54,200 and Allowance for
Doubtful Accounts of $3,700. Harvee Company prepares financial statements annually. During
the year, the following selected transactions occurred.Jan. 5 Sold $4,000 of merchandise to
Rian Company, terms n/30.Feb. 2 Accepted a $4,000, 4-month, 9% promissory note from Rian
Company for balance due.12 Sold $12,000 of merchandise to Cato Company and accepted
Cato's $12,000,2-month, 10% note for the balance due.26 Sold $5,200 of merchandise to
Malcolm Co., terms n/10.Apr. 5 Accepted a $5,200, 3-month, 8% note from Malcolm Co. for
balance due.12 Collected Cato Company note in full.June 2 Collected Rian Company note in
full.15 Sold $2,000 of merchandise to Gerri Inc. and accepted a $2,000, 6-month,12% note for
the amount due.InstructionsJournalize the transactions. (Omit cost of goods sold entries.)View
Solution:
On January 1 2017 Harvee Company had Accounts Receivable of

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