Question

Do journal and the are pictures of account types for journal chart are last two photos

11 LL LLLUE Udidacions instructions Chart of Accounts Journal Instructions 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. Feb. 10 13 Mar. 12 14 Apr. 3 Loaned $18,000 cash to Trina Gelhaus, receiving a 90-day, 8% note. Sold merchandise on account to Bradford & Co. 524,000. The cost of the merchandise sold was $14,400 Sold merchandise on account to Dry Creek Co. 560,000. The cost of merchandise sold was $54.000 Accepted a 60-day, 7% note for $24.000 from Bradford & Co on account Accepted a 60-day, 99 note for $60,000 from Dry Creek Co on account Received the interest due from Trina Gelhaus and a new 120-day, 946 note as a renewal of the loan of January 3 (Record both the debit and the credit to the notes receivable account. Use a compound journal entry with debits before credits.) Received from Bradford & Co the amount due on the note of March 12. Dry Creek Co. dishonored its note dated March 14 Received from Dry Creek Co the amount owed on the dishonored note plus interest for 60 days at 12 computed on the maturity value of the note May 11 13 July 12

Answer 1

Credit Date Jan. 03 Debit 18,000 18,000 Feb. 10 24,000 24,000 14,400 14,400 Feb. 13 60,000 60,000 54,000 54,000 Mar. 12 24,000 General Journal Notes Receivable Cash Accounts Receivable-Bradford & Co. Sales Cost of Merchandise Sold Merchandise Inventory Accounts Receivable-Dry Creek Co. Sales Cost of Merchandise Sold Merchandise Inventory Notes Receivable Accounts Receivable-Bradford & Co. Notes Receivable Accounts Receivable-Dry Creek Co. Cash ($18,000 * 8% * 90/360) Notes Receivable Notes Receivable Interest Revenue Cash Notes Receivable Interest Revenue ($24,000 * 7% * 60/360) Accounts Receivable-Dry Creek Co. Accounts Recon Notes Receivable Interest Revenue ($60,000 * 9% * 60/360) 24,000 Mar. 14 60,000 60,000 Apr. 03 360 18,000 18,000 360 May 11 24,280 24,000 280 May 13 60,900 60,000 900


July 12 62,118 60,900 1,218 Aug. 01 18,540 18,000 540 Cash Accounts Receivable-Dry Creek Co. Interest Revenue ($60,900 * 12% * 60/360) Cash Notes Receivable Interest Revenue ($18,000 * 9% * 120/360) Accounts Receivable-Halloran Co. Sales Cost of Merchandise Sold Merchandise Inventory Cash Accounts Receivable-Halloran Co. Oct. 05 13,500 13,500 8,100 8,100 Oct. 15 13,500 13,500