The following were selected from among the transactions completed by Mair Co. during the current year. Mair Co. sells and installs home and business security systems.

Jan. 10. Loaned $12,000 cash to Jas Caudel, receiving a 90-day, 8% note.

Feb. 4. Sold merchandise on account to Periman & Co., $28,000. The cost of the merchandise sold was $16,500.

13. Sold merchandise on account to Centennial Co., $30,000. The cost of merchandise sold was $17,600.

Mar. 6. Accepted a 60-day, 6% note for $28,000 from Periman & Co. on account.

14. Accepted a 60-day, 12% note for $30,000 from Centennial Co. on account.

Apr. 10. Received the interest due from Jas Caudel and a new 90-day, 10% note as a renewal of the loan of January

10. (Record both the debit and the credit to the notes receivable account.)

May 5. Received from Periman & Co. the amount due on the note of March 6.

13. Centennial Co. dishonored its note dated March 14.

June 12. Received from Centennial Co. the amount owed on the dishonored note, plus interest for 30 days at 12% computed on the maturity value of the note.

July 9. Received from Jas Caudel the amount due on his note of April 10.

Aug.10. Sold merchandise on account to Lindenfield Co., $13,600. The cost of the merchandise sold was $8,000.

20. Received from Lindenfield Co. the amount of the invoice of August 10, less 1% discount.

Instructions

Journalize the transactions.