Date | Account Titles | Debit | Credit | |
2016 | Note Receivable - Caroll Fadal | $ 11,000 | ||
Feb-01 | Cash | $ 11,000 | ||
Apr-06 | Note Receivable - Turf masters | $ 15,000 | ||
Sales Revenue | $ 15,000 | |||
Apr-30 | Interest Receivable | $ 334 | =11000*10%*3/12+15000*6%*24/366 | |
Interest Revenue | $ 334 |
Date | Account Titles | Debit | Credit | |
Jul-05 | Cash | $ 15,221 | ||
Interest Revenue | $ 162 | =15000*6%*66/366 | ||
Interest Receivable | $ 59 | =15000*6%*24/366 | ||
Note Receivable - Turf masters | $ 15,000 |
Date | Account Titles | Debit | Credit | |
2017 | Cash | $ 12,100 | ||
Feb-01 | Interest Revenue | $ 825 | =11000*10%*9/12 | |
Interest Receivable | $ 275 | =11000*10%*3/12 | ||
Note Receivable - Caroll Fadal | $ 11,000 |
Interest has been calculated by assuming 366 days in 2016
.
The following selected transactions occurred during 2016 and 2017 for Coral Importers. The company ends its...
the numbers in the 3rd box is wrong, unsure how to compute The following selected transactions occurred during 2016 and 2017 for Baltic Importers. The company ends its accounting year on September 30. (Click the icon to view the transactions.) Journalize all required entries. Make sure to determine the missing maturity date. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jul. 1: Loaned $13,000 cash to Brandy Tell on a one-year,...
E8-24 Journalizing note receivable transactions The following selected transactions occurred during 2018 and 2019 for Baltic Import- ers. The company ends its accounting year on September 30. 2018 Deh, Jul. 1 Loaned $ 16,000 cash to Bud Shyne on a one-year, 8% note. اعل EGO Sep. 6 Sold goods to Lawn Pro, receiving a 90-day, 6% note for $11,000. Ignore Cost of Goods Sold. 30 Made a single entry to accrue interest revenue on both notes. Il peo+4319 1 62...
0 More Info 2018 Sep. 1 Loaned $18,000 cash to Bob Jewitt on a one-year, 8% note Nov. 8 Sold goods to Fairway Pro, receiving a 90-day, 6% note for $16,000. Ignore Cost of Goods Sold. 30 Made a single entry to accrue interest revenue on both notes ? Collected the maturity value of the Fairway Pro note. 2019 Sep. 1 Collected the maturity value of the Jewitt note Print Done The following selected transactions occurred during 2018 and 2019...
ro-STA (DOOK/static) Question Help Sleepy Recliner Chairs completed the following selected transactions: (Click the icon to view the transactions.) Record the transactions in the journal of Sleepy Recliner Chairs. Explanations are not required. (Round to the nearest dollar) (Record debits first, then credits. Exclude explanations from journal entries. For notes stated in days, use a 365-day year.) Begin with the transactions for 2018. Jul. 1: Sold inventory to Stan-Mart, receiving a $41,000, nine-month, 8% note. Ignore Cost of Goods Sold....
ar, 6% note . Debif More Info 2018 Loaned $15,000 cash to Bill McCabe on a one-year, 6 % note. Sold goods to Green Pro, receiving a 90-day, 9 % note for $9,000. Ignore Cost of Goods Sold. Made a single entry to accrue interest revenue on both notes. ? Sep. 1 Nov. 6 30 Collected the maturity value of the Green Pro note. 2019 Sep. 1 Collected the maturity value of the McCabe note. Print Done t fields and...
3) Hughes Foods completed the following selected transactions 2016 Oct 31 Sold goods to BiLo's Foods, receiving a $36,000, three-month, 4.5% note. (You do not need to make the cost of goods sold journal entry for this transaction.) Made an adjusting entry to accrue interest on the BiLo's Foods note. Dec 31 2017 Jan 31 Feb 18 19 Collected the BiLo's Foods note. Received a 90-day, 7.00%, $7,000 note from Dutton Market on account. Sold the Dutton Market note to...
Signoff Lamp Company had the following balances at December 31, 2018, before the year-end adjustments (Click the icon to view the balances and accounts receivable aging schedule.) O RECORD DEDISSERTTECTES, S E Requirements 1. Journalize Signoff's entry to record bad debts expense for 2018 using the aging-of-receivables method. 2. Prepare a T-account to compute the ending balance of Allowance for Bad Debts. Requirement. Jorgegnonsen TT DU DUS Expense or UIO Using meng-OHIVOS explanation on the last line of the journal...
numbers are wrong ?: Collected the maturity value of the Lawn Pro note. Make sure to determine the missing maturity date. (Prepare a single compound journal entry. Use a 360-day year for this interest computation.) Date Accounts and Explanation Debit Credit 2017 Cash 13,000 47.34 Sep. 30 Interest Receivable Interest Revenue Note Receivable Lawn Pro 2016 Jul. 1 Loaned $13,000 cash to Brandy Tell on a one-year, 8% note. Sep. 6 Sold goods to Lawn Pro, receiving a 90-day, 12%...
*Exercise 9-12 a-b Skysong Supply Co. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest except at December 31. Nov. 1 Dec. 11 16 31 Loaned $27,600 cash to Manny Lopez on a 12-month, 10% note. Sold goods to Ralph Kremer, Inc., receiving a $81,000, 90-day, 8% note. Received a $82,080, 180 day, 10% note in exchange for Joe Fernetti's outstanding accounts receivable. Accrued interest...
Consider the following transactions for Mad Dog Music. (Click the icon to view the transactions.) Journalize all transactions for Mad Dog Music, Round all amounts to the nearest dollar (For notes stated in days, use a 365-day year. Round your final answers to the nearest whole dollar. Record debits first, then credits. Exclude explanations from journal entries.) Dec. 6: Received a $15,000, 90-day, 10% note in settlement of an overdue accounts receivable from All Star Date Accounts Debit Credit 2018...