the following were selected from among the transactions completed during the current 554161

Jan. 13.

Sold merchandise on account to Boylan Co., $32,000. The cost of merchandise sold was $19,200.

Mar. 10.

Accepted a 60-day, 6% note for $32,000 from Boylan Co. on account.

May 9.

Received from Boylan Co. the amount due on the note of March 10.

June 10.

Sold merchandise on account to Holen for $18,000. The cost of merchandise sold was $10,000.

15.

Loaned $24,000 cash to Angie Jones, receiving a 30-day, 7% note.

20.

Received from Holen the amount due on the invoice of June 10, less 2% discount.

July 15.

renewal of the loan of June 15. (Record both the debit and the credit to the notes receivable account.)

Sept. 13.

Received from Angie Jones the amount due on her note of July 15. Sold merchandise on account to Aztec Co., $40,000. The cost of merchandise sold was $25,000.

Oct. 12.

Accepted a 60-day, 6% note for $40,000 from Aztec Co. on account.

Dec. 11.

Aztec Co. dishonored the note dated October 12.

26.

Received from Aztec Co. the amount owed on the dishonored note, plus interest for 15 days at 12% computed on the maturity value of the note.