Juumalize the tdishonor of Note (3) on its due date accrued interest on Notes (5
ID: 2402635 • Letter: J
Question
Juumalize the tdishonor of Note (3) on its due date accrued interest on Notes (5) and (6) on Notes (5) and (6) December t adjusting entry to record the accrued interest on Notes (5 4. Jou rnalize the entries to record the receipt of the amounts due on in January. PR 9-5A. Notes receivable entries The following data relate to notes receivable and interest for CGH Ca manufacturer and supplier. (All notes are dated as of the day they are Apr. 10, Received a $144,000, 5%, 60-day note on account. May 15, Received a $270,000, 7%, 120-day note on account. June 9. Received $145,200 on note of April 10. Aug. 22. Received a $150,000, 4%, 45-day note on account. Sept. 12. Received $276,300 on note of May 15. OBJ. 6 ble Co., a cable received.) 30. Received a $210,000, 8%, 60-day note on account. Oct. 6. Received $150,750 on note of August 22. 18, Received a 120,000, 5%, 60-day note on account. Nov. 29. Received $212,800 on note of September 30. Dec. 17. Received $121,000 on note of October 18. Instructions Journalize the entries to record the transactions.Explanation / Answer
Journal Entry Date Account Tittle & Explanation Dr. Amt. Cr. Amt. Apr-10 5% Notes Receivable Dr. $1,44,000 To Account Receivable $1,44,000 To Record the receipt of Note May-15 7%Notes Receivable Dr. $2,70,000 To Account Receivable $2,70,000 To Record the receipt of Note Jun-09 Cash Dr. $1,45,200 To 5% Notes Receivable $1,200 To Interest Revenue $1,44,000 To record the cash and Interest received Aug-22 4% Notes Receivable Dr. $1,50,000 To Account Receivable $1,50,000 To Record the receipt of Note Sep-12 Cash Dr. $2,76,300 To 7% Notes Receivable $2,70,000 To Interest Revenue $6,300 To record the cash and Interest received Sep-30 8% Notes Receivable Dr. $2,10,000 To Account Receivable $2,10,000 To Record the receipt of Note Oct-06 Cash Dr. $1,50,750 To 4% Notes Receivable $750 To Interest Revenue $1,50,000 To record the cash and Interest received Oct-18 5% Notes Receivable Dr. $1,20,000 To Account Receivable $1,20,000 To Record the receipt of Note Nov-29 Cash Dr. $2,12,800 To 8% Notes Receivable $2,10,000 To Interest Revenue $2,800 To record the cash and Interest received Dec-17 Cash Dr. $1,21,000 To 5% Notes Receivable $1,20,000 To Interest Revenue $1,000 To record the cash and Interest received
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