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Following are selected transactions for Ridge Company Mar. 21 Accepted a $13,700, 180-day, 12% note dated March 21 from Tamar

View transaction list Journal entry worksheet < 1 2 3 Accepted a $13,700, 180-day, 12% note dated March 21 from Tamara Jackso

ulse View transaction list Journal entry worksheet Jackson dishonored her note when it is presented for payment. Note: Enter

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Answer #1
Total through maturity
Principal 13700
Rate(%) 12%
Time 180/360
Total interest 822
Debit Credit
Mar 21 Notes receivable- T Jackson 13700
      Accounts receivable- T. Jackson 13700
Sept 17 Accounts receivable- T. Jackson 14522
     Interest revenue 822
    Notes receivable- T Jackson 13700
Dec 31 Allowance for doubtful accounts 14522
      Accounts receivable- T. Jackson 14522
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