On January 1, 2011, Kloppenberg Company had Accounts Receivable $139,000, Notes Receivable $25,000, and Allowance for Doubtful Accounts $13,200. The note receivable is from Sara Rogers Company. It is a 4-month, 12% note dated December 31, 2010. Kloppenberg Company prepares financial statements annually. During the year the following selected transactions occurred.

Jan. 5 Sold $20,000 of merchandise to Dedonder Company, terms n/15.

Jan. 20 Accepted Dedonder Company’s $20,000, 3-month, 9% note for balance due.

Feb. 18 Sold $8,000 of merchandise to Ludwig Company and accepted Ludwig’s $8,000, 6-month, 9% note for the amount due.

Apr. 20 Collected Dedonder Company note in full.

Apr. 30 Received payment in full from Sara Rogers Company on the amount due.

May 25 Accepted Jenks Inc.’s $4,000, 3-month, 7% note in settlement of a past-due balance on account.

Aug. 18 Received payment in full from Ludwig Company on note due.

Aug. 25 The Jenks Inc. note was dishonored. Jenks Inc. is not bankrupt; future payment is anticipated.

Sept. 1 Sold $12,000 of merchandise to Lena Torme Company and accepted a $12,000, 6-month, 10% note for the amount due.


Journalize the transactions.