The following series of transactions occurred during Year 1 and Year 2, when Foxworth Co. sold merchandise to Kevin Lewis. Foxworth's annual accounting period ends on December 31. The company uses the net method of accounting for sales discounts. 
Prepare Foxworth Co.'s journal entries to record the above transactions. The company uses the allowance method to account for its bad debt expense.
Definitions:
Dividends
A portion of a company's earnings that is paid to shareholders, usually on a quarterly basis.
Fixed Assets
Long-term tangible assets that a company uses in its operations and that are not intended to be sold in the regular course of business.
Interest Expense
Interest expense is the cost incurred by an entity for borrowed funds, typically noted on the income statement as a non-operating expense.
Depreciation
A method used in accounting to divide the expenditure of a tangible asset over the time it is useful.
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