Question

Please help with November 9th journal entry.

Prepare journal entries to record the following transactions entered into by the Sheridan Company: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) 2021 June 1 Received a $15,000,8%, 1-year note from Dan Gore as full payment on his account. Nov. 1 Sold merchandise on account to Barlow, Inc., for $17,000, terms 2/10,n/30. Nov. 5 Barlow, Inc., returned merchandise worth $1,300. Nov. 9 Received payment in full from Barlow, Inc. Dec. 31 Accrued interest on Gore's note. 2022 June 1 Dan Gore honored his promissory note by sending the face amount plus interest. Date Account Titles and Explanation Debit Credit 2021 June 1 + Notes Receivable 15000 Accounts Receivable 15000 Nov. 1 Accounts Receivable Sales Revenue Nov. Sales Returns and Allowances 1300 Accounts Receivable 1300 Nov.9 Cash Sales Discounts Accounts Receivable

Answer 1

Answer:

Date	Accounts Title	Debit($)	Credit($)
09-Nov	Cash ((17000-1300)*98%)	15,386
	Sales Discounts (17000-1300)*2%	314
	Accounts receivable (17000-1300)		15,700
	(To record cash received of accounts receivable)