Prepare the journal entries for Fit City Company for the following transactions:
a)Fit sold $9,500 of merchandise to AllSport Company on account.
b)Fit City received a 90-day,$9,500,10% note for a time extension of past-due account of AllSport.
c)Collected the AllSport note on the maturity date.

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The Answer of Prepare the journal entries for Fit City Company for the following transactions:
a)Fit sold $9,500 of merchandise to AllSport Company on account.
b)Fit City received a 90-day,$9,500,10% note for a time extension of past-due account of AllSport.
c)Collected the AllSport note on the maturity date.

Prepare the Journal Entries for Fit City Company for the Following