Question
1) Journalize the transactions.( Omit cost of goods sold entries.)
On January 1, 2020, Oriole Company had Accounts Receivable $142,700, Notes Receivable $37,200, and Allowance for Doubtful Acc
Debit Credit Date Account Titles and Explanation ▼| |Accounts Receivable . Sales Revenue 318001 [ an. 5 31800 31800 Jan. 20 N
Aug. 25 Accounts Receivable Interest Revenue Notes Receivable Sept. 1 Notes Receivable Sales Revenue
0 0
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Answer #1
Journal entries
Date Particulars Debit Credit
05-Jan Accounts receivable 31800
sale 31800
20-Jan Notes receivable 31800
accounts receivable 31800
18-Feb notes receivable 21600
sale revenue 21600
20-Apr cash 32436
notes receivable 31800
interest income (31800*8%*3/12) 636
30-Apr cash 38316
notes receivable 37200
interest income (37200*9%*4/12) 1116
25-May notes receivable 18000
accounts receivable 18000
18-Aug cash 22572
notes receivable 21600
interest income (21600*9%*6/12) 972
25-Aug accounts receivable 18315
notes receivable 18000
interest income (18000*7%*3/12) 315
01-Sep Notes receivable 12500
sales 12500
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