Norton Company has accounts receivable of $40,000 in its general ledger at July 31: During August, the following transactions occurred. 
Instructions
(a) Journalize the transactions.
(b) Indicate the statement presentation of finance and service charges.
Definitions:
Years
Units of time that constitute 365 days (or 366 days in a leap year), commonly used as a measure for time periods in financial calculations.
Annual Growth Rate
The percentage increase in the value of an investment or portfolio over the period of a year.
Price of Gold
The current market value per ounce of pure gold, which fluctuates based on various economic and geopolitical factors.
Highest Value
The maximum value attained or attainable under specific conditions.
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