1/1/2019 sally miller purchased $500 of merchandise on account; the cost of the item is $310

Solution and Explanation:

date                           Particulars                                  Debit                    Credit

1st january, 2019    Account receivable                  500

                                Sales revenue                                                            500

                    (To record sales on account)

                        Cost of goods sold                              310

                       Merchandise inventory                                                      310

             (To record cost of goods sold)

31st january, 2019       Notes receivable                     500

                                 Accounts receivable                                                 500

(To record notes receivable for the 60 days at the rate of 6 percent)

1st April, 2019 Allowances for Doubtfull accounts          500

                        Notes receivable                                                                500

(In order to write off Sally Millers account, no interest revenue is to be recognised)

2nd May, 2019           Notes receivable                             500

                              Allowances for doubtful debts                                     500

( in order to record re-instatement)

2nd May, 2019             Cash                                                  507.50

                                  Notes receivable                                                        500

                               Interest revenue                                                             7.5

( In order to record the payment received)

d. all of the above are true.

i think the answer is a. dependable person

i hope this is right!