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On January 1, 2017, Concord Corporation had Accounts Receivable of

On January 1, 2017, Concord Corporation had Accounts Receivable of

$ 54,000 and Allowance for Doubtful Accounts of $3,500. Concord Corporation prepares financial statements annually. During the year, the following selected transactions occurred:

Jan.  

5 Sold $ 4,800 of merchandise to Rian Company, terms n/30.

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Feb.  

2 Accepted a $ 4,800, 4-month,  10% promissory note from Rian Company for balance due.

12 Sold $ 13,500 of merchandise to Cato Company and accepted Cato’s $ 13,500, 2-month,  10% note for the balance due.

26 Sold $ 12,300 of merchandise to Malcolm Co., terms n/10.

Apr.  

5 Accepted a $ 12,300, 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 $ 1,900 of merchandise to Gerri Inc. and accepted a $ 1,900, 6-month,  12% note for the amount due.

How do you write these as debts and credits

 
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