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Journalize entires related to accounts receivable.

1.     Sold merchandise on account to Dodson Company for $5,000, terms 2/10, n/30.

2.     Dodson Company returned merchandise worth $500 to Molina.

3.     Molina collected the amount due from Dodson Company from the March 1 sale.

4.     Molina sold merchandise for $400 in its retail outlet. The customer used his Molina credit card.

5.     Molina added 1.5% monthly interest to the customer’s credit card balance.

 

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