J. K. Pratt Co. had the following transactions: 20-1 July 20 Received a $750, 30-day, 5% note from J. Akita in payment for sale of merchandise. Aug. 19 J. Akita paid note issued July 20 plus interest. 25 Sold merchandise on account to L. Beene, $1,100. Sept. 5 L. Beene paid $100 and gave a $1,000, 30-day, 6% note to extend time for payment. Oct. 5 L. Beene paid note issued September 5, plus interest. 10 Sold merchandise to R. Harris for $750: $50 plus a $700, 30-day, 6% note. Nov. 9 R. Harris paid $200 plus interest on note issued October 10 and extended the note ($500) for 30 days. Dec. 9 R. Harris paid note extended on November 9, plus interest. 10 Sold merchandise on account to B. Kraus, $1,500. 15 B. Kraus paid $150 on merchandise purchased on account, and gave a $1,350, 30-day, 7% note to extend time for payment. 20-2 Jan. 14 B. Krauss note of December 15 is dishonored. Feb. 13 Collected B. Krauss dishonored note, plus interest at 7% on the maturity value REQUIRED Record the transactions in a general journal
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