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The following transactions are for Wildhorse Company.

1.		On December 3, Wildhorse Company sold $584,300 of merchandise to Swifty Co., on account, terms 2/10, n/30, FOB destination. Wildhorse paid $370 for freight charges. The cost of the merchandise sold was $359,300.
2.		On December 8, Swifty Co. was granted an allowance of $21,300 for merchandise purchased on December 3.
3.		On December 13, Wildhorse Company received the balance due from Swifty Co.

Assume that Wildhorse Company received the balance due from Swifty Co. on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2. (Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date Dec. 3Dec. 8Dec. 13Jan. 2	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

LIST OF ACCOUNTS:

• Accounts Payable
• Accounts Receivable
• Accumulated Depreciation-Buildings
• Accumulated Depreciation-Equipment
• Advertising Expense
• Buildings
• Cash
• Casuality Loss from Vandalism
• Cost of Goods Sold
• Depreciation Expense
• Dividend Revenue
• Equipment
• Freight-In
• Freight-Out
• Income Summary
• Insurance Expense
• Interest Expense
• Interest Payable
• Interest Revenue
• Inventory
• Land
• Loss on Disposal of Plant Assets
• Maintenance and Repairs Expense
• Notes Payable
• Operating Expenses
• Owner's Capital
• Owner's Drawings
• Prepaid Insurance
• Property Tax Expense
• Property Taxes Payable
• Purchase Discounts
• Purchase Returns and Allowances
• Purchases
• Rent Expense
• Salaries and Wages Expense
• Salaries and Wages Payable
• Sales Commissions Expense
• Sales Commissions Payable
• Sales Discounts
• Sales Returns and Allowances
• Sales Revenue
• Supplies
• Supplies Expense
• Unearned Service Revenue
• Utilities Expense

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