The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing:
The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing:
20Y3
Nov. 21 Received from McKenna Outer Wear Co., on account, a $54,000, 60-day, 7% note
dated November 21 in settlement of a past due account.
Dec. 31 Recorded an adjusting entry for accrued interest on the note of November 21.
20Y4
Jan. 20 Received payment of note and interest from McKenna Outer Wear Co.
Journalize the entries to record the transactions for the year 20Y3. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year when calculating interest. Round answers to the nearest dollar amount.
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The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing:
The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers...
The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing: 20Y3 Nov. 21. Received from McKenna Outer Wear Co., on account, a $96,000, 60-day, 3% note dated November 21 in settlement of a past due account. Recorded an adjusting entry for accrued interest on the note of November 21. Dec. 31. 2014 Jan. 20. Received payment of note and interest from McKenna Outer Wear Co. Journalize the entries to record the transactions....
The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers...
The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing: 20Y3 Nov. 21 Received from McKenna Outer Wear Co., on account, a $48,000, 60-day, 6% note dated November 21 in settlement of a past due account. Dec. 31 Recorded an adjusting entry for accrued interest on the note of November 21. 20Y4 Jan. 20 Received payment of note and interest from McKenna Outer Wear Co. Journalize the entries to record the transactions....
OBJ. 2 s. (a) and (b). ment and that w PE 6-4A Freight terms Determine the...
OBJ. 2 s. (a) and (b). ment and that w PE 6-4A Freight terms Determine the amount to be paid in full settlement of each of two invoices, (a) and assuming that credit for returns and allowances was received prior to payment and all invoices were paid within the discount period. Freight Paid by Seller Freight Terms FOB shipping point, 1/10, n/30 FOB destination, 2/10, n/30 Returns and Allowances $15,000 Merchandise $ 90,000 110,000 $1,000 1,575 8,500 Chapter 9 Receivables...
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Troy Canvas WebExpress T Troy Catalogs Academic Evaluat... The Knot PT Pottery Barn B Bed Bath and Bey. Tarpet eBook Show Me How Calculator Entries for Notes Receivable, including Year-End Entries The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing: 2013 Nov. 21. Received from McKenna Outer Wear Co., on account, a $96,000, 60-day, 3% note dated November 21 in settlement of a past due account Dec. 31. Recorded an adjusting...
The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing:
EX 8-22 Entries for notes receivable, including year-end entries The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing:2007 Dec. 7. Received from Unitarian Clothing & Bags Co., on account, a $75,000, 60-day, 3% note dated December 7. 31. Recorded an adjusting entry for accrued interest on the note of December 7. 31. Recorded the closing entry for interest revenue.2008 Feb. 5. Received payment of note and interest from Unitarian Clothing & Bags Co. Journalize the entries to record the...
The following selected transactions are from Springer Company. 2014 Accepted a $4,800, 90-day, 8% note dated...
The following selected transactions are from Springer Company. 2014 Accepted a $4,800, 90-day, 8% note dated this day in granting Steve Julian a time extension on his past-due account receivable. Nov. 1 Dec. 31 Made an adjusting entry to record the accrued interest on the Julian note. 2015 Jan. Feb. 30 Received Julian's payment for principal and interest on the note dated November 1. 28 Accepted a $12,600, 30-day, 8% note dated this day in granting a time extension on...
Calculator ctions t Caldemeyer Co ollowing were selected from among the transactions completed by...
The following were selected from among the transactions completed by Caldemeyer Co. during the current year. Caldemeyer Co. sells and installs home and business security systems. Jan. 3. Loaned $18,000 cash to Trina Gelhaus, receiving a 90-day, 8% note. Feb. 10. Sold merchandise on account to Bradford & Co., $24,000. The cost of the merchandise sold was $14,400. 13. Sold merchandise on account to Dry Creek Co., $60,000. The cost of merchandise sold was $54,000. Mar. 12. Accepted a 60-day, 7% note for $24,000...
please help me solve this Entries for Notes Receivable, Including Year-End Entries The following selected transactio...
please help me solve this
Entries for Notes Receivable, Including Year-End Entries The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing: 20Y7 Dec. 7 Received from Unitarian Clothing & Bags Co., on account, a $75,000, 60-day, 36 note dated December 7. 31 Recorded an adjusting entry for accrued interest on the note of December 7. 31. Recorded the closing entry for interest revenue. 20Υ8 Feb. 5 Received payment of note and interest from...
The following selected transactions are from Springer Company. 2016 Nov. 1 Accepted a $4,800, 90-day, 8%...
The following selected transactions are from Springer Company. 2016 Nov. 1 Accepted a $4,800, 90-day, 8% note dated this day in granting Steve Julian a time extension on his past- due account receivable. Made an adjusting entry to record the accrued interest on the Julian note. Dec. 31 2017 Jan. 30 Feb. 28 Received Julian's payment for principal and interest on the note dated November 1. Check Jan. 30. Cr. Interest Revenue, $32 Accepted a $12,600, 30-day, 8% note dated...
Problem 9-5A Analyzing and journalizing notes receivable transactions LO C2, C3, P4 The following selected transactions...
Problem 9-5A Analyzing and journalizing notes receivable transactions LO C2, C3, P4 The following selected transactions are from Ohlm Company (Use 360 days a year.) 2016 Dec. 16 Accepted a $10,100, 60-day, 6 note dated this day in granting Danny Todd a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. 2017 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar....
The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing: 20Y3 Nov. 21. Received from McKenna Outer Wear Co., on account, a $96,000, 60-day, 3% note dated November 21 in settlement of a past due account. Recorded an adjusting entry for accrued interest on the note of November 21. Dec. 31. 2014 Jan. 20. Received payment of note and interest from McKenna Outer Wear Co. Journalize the entries to record the transactions....
OBJ. 2 s. (a) and (b). ment and that w PE 6-4A Freight terms Determine the amount to be paid in full settlement of each of two invoices, (a) and assuming that credit for returns and allowances was received prior to payment and all invoices were paid within the discount period. Freight Paid by Seller Freight Terms FOB shipping point, 1/10, n/30 FOB destination, 2/10, n/30 Returns and Allowances $15,000 Merchandise $ 90,000 110,000 $1,000 1,575 8,500 Chapter 9 Receivables...
Troy Canvas WebExpress T Troy Catalogs Academic Evaluat... The Knot PT Pottery Barn B Bed Bath and Bey. Tarpet eBook Show Me How Calculator Entries for Notes Receivable, including Year-End Entries The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing: 2013 Nov. 21. Received from McKenna Outer Wear Co., on account, a $96,000, 60-day, 3% note dated November 21 in settlement of a past due account Dec. 31. Recorded an adjusting...
The following selected transactions are from Springer Company. 2014 Accepted a $4,800, 90-day, 8% note dated this day in granting Steve Julian a time extension on his past-due account receivable. Nov. 1 Dec. 31 Made an adjusting entry to record the accrued interest on the Julian note. 2015 Jan. Feb. 30 Received Julian's payment for principal and interest on the note dated November 1. 28 Accepted a $12,600, 30-day, 8% note dated this day in granting a time extension on...
The following were selected from among the transactions completed by Caldemeyer Co. during the current year. Caldemeyer Co. sells and installs home and business security systems. Jan. 3. Loaned $18,000 cash to Trina Gelhaus, receiving a 90-day, 8% note. Feb. 10. Sold merchandise on account to Bradford & Co., $24,000. The cost of the merchandise sold was $14,400. 13. Sold merchandise on account to Dry Creek Co., $60,000. The cost of merchandise sold was $54,000. Mar. 12. Accepted a 60-day, 7% note for $24,000...
please help me solve this
Entries for Notes Receivable, Including Year-End Entries The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing: 20Y7 Dec. 7 Received from Unitarian Clothing & Bags Co., on account, a $75,000, 60-day, 36 note dated December 7. 31 Recorded an adjusting entry for accrued interest on the note of December 7. 31. Recorded the closing entry for interest revenue. 20Υ8 Feb. 5 Received payment of note and interest from...
The following selected transactions are from Springer Company. 2016 Nov. 1 Accepted a $4,800, 90-day, 8% note dated this day in granting Steve Julian a time extension on his past- due account receivable. Made an adjusting entry to record the accrued interest on the Julian note. Dec. 31 2017 Jan. 30 Feb. 28 Received Julian's payment for principal and interest on the note dated November 1. Check Jan. 30. Cr. Interest Revenue, $32 Accepted a $12,600, 30-day, 8% note dated...
Problem 9-5A Analyzing and journalizing notes receivable transactions LO C2, C3, P4 The following selected transactions are from Ohlm Company (Use 360 days a year.) 2016 Dec. 16 Accepted a $10,100, 60-day, 6 note dated this day in granting Danny Todd a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. 2017 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar....
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