Balance as of January 1 600,000.

00
(1) Sold Goods on Accounts 3,000,000.00
(2) Collections from Customers (2,250,000.00)
Discount Availed (882,000 / 98% x 2%) (18,000.00)
(3) Notes Received in Settlement of Account (250,000.00)
(7) Overdue Notes Receivable (15,000 + 900) 15,900.00
(8) Accounts Written-Off (12,000.00)
Accounts Receivable 1,085,900.00
Less: Required Allowance for Doubtful Accounts (30,000.00)
Accounts Receivable, net 1,055,900.00

Balance as of January 1 100,000.00

(3) Notes Received in Settlement of Account 250,000.00
(4) Collection of Notes Receivable (200,000.00)
(5) Discounting of Notes Receivable (40,000.00)
(7) Overdue Notes Receivable (15,000.00)
Notes Receivable 95,000.00

Balance as of January 1 2,800.00

(4) Collection of Notes Receivable and 2018 Interest (2,800.00)
(11 Accrual of interest for remaining notes 3,200.00
Interest Receivable 3,200.00

Accounts Receivable, net Notes 1,055,900.00

Receivable 95,000.00
Interest Receivable 3,200.00
TradeandOtherReceivables 1,154,100.00
1/1 Interest Revenue 2,800
Interest Receivable 2,800
(1) Accounts Receivable 3,000,000
Sales 3,000,000
(2) Cash 2,250,000
Sales Discounts (882,000/98%) x 2% 18,000
Accounts receivable 2,250,000

(3) Notes Receivable 250,000

Accounts Receivable 250,000
(4) Cash 216,000
Notes Receivable 200,000
Interest Revenue 16,000
(5) Cash 41,000
Liability on Discounted Notes 41,000
Liability on Discounted Notes 41,000
Interest expense 46,000
Notes Receivable 40,000
Interest revenue 6,000
(6) Accounts Receivable Assigned 300,000
Accounts Receivable 300,000
Cash 222,000
Finance Charges 18,000
Notes Payable 240,000
(7) Accounts Receivable 15,900
Notes Receivable 15,000
Interest Revenue 900
(8) Allowance for Uncollectible Accounts 12,000
Accounts Receivable 12,000
(9) Notes Payable 180,000
Interest Expense 3,000
Cash 183,000
(10) Uncollectible Accounts Expense 30,000
Allowance for Uncollectible Accounts 30,000
30,000 – (12,000 –12,000)
(11) Interest Receivable 3,200
Interest Revenue 3,200