Response to the following problem:
The following were selected from among the transactions completed by Hunter Co. during the current year. Hunter Co. sells and installs home and business security systems.
Jan. 8 Loaned $8,500 cash to Mark Tift, receiving a 90-day, 8% note.
Feb. 3 Sold merchandise on account to Messina and Son, $16,000. The cost of the merchandise sold was $9,000.
Feb. 12 Sold merchandise on account to Gwyn Co., $27,500. The cost of merchandise sold was $15,750.
Mar. 5 Accepted a 60-day, 6% note for $16,000 from Messina and Son on account.
14 Accepted a 60-day, 12% note for $27,500 from Gwyn Co. on account.
Apr. 9 Received the interest due from Mark Tift and a new 90-day, 9% note as a renewal of the loan of January 8. (Record both the debit and the credit to the notes receivable account.)
May 4 Received from Messina and Son the amount due on the note of March 5.
13 Gwyn Co. dishonored its note dated March 14.
June 12 Received from Gwyn Co. the amount owed on the dishonored note, plus interest for 30 days at 12% computed on the maturity value of the note.
July 8 Received from Mark Tift the amount due on his note of April 9.
Aug. 23 Sold merchandise on account to MacKenzie Co., $10,000. The cost of the merchandise sold was $6,500.
Sept. 2 Received from MacKenzie Co. the amount of the invoice of August 23, less 1% discount.
Instructions: Journalize the transactions.