100 points To attract retailers to ts shopping center, the Marketplace Mal wilen

Question

100 points To attract retailers to ts shopping center, the Marketplace Mal wilend money to tenants under formal contracts, provided that they use it to renovate their store space. On November 1, 2014, the company oaned $105,000 to a new tenant on a one-year note with a stated annual interest rate of 10 percent nmerest is to be received by Marketplace Mail on Apri 30,2015, and at maturity on October 31, 2015 Required: Prepare journal entries that Marketplace Mall would record related to this none on the (a) November 1, 2014, (b) December 31,2014 (Marketplace Malts fiscal year-end) (c) Apnil 30, 2018 and (d) October 31, 2015 (if no entry is required for a transactionievent, select "No Journal Entry Required" in the first account field) dates: www traneaction Viww journal entry workaheat Date 1Nov 01, 2014 Notes Receivable 105 Cash 105 21231/2014 Interest Receivable nterest Revenue 3 Apr 30, 2018 Cash nterest Revenue /4 Oct 31. 2015 Cash Intarest Revenue 5 Oct 31, 2015 Cash Notes Receivable Hints ReferencesBook &Resources; Type here to sea

Explanation / Answer

Date Particulars Debit Credit Nov 1 Notes Receivable $ 105000 Cash $ 105000 Dec 31 Int Receivable $ 1750 Int Revenue $ 1750 Apr 30 Cash $ 5250 Int Receivable $ 1750 Int Revenue $ 3500 Oct 31 Cash $ 5250 Int Revenue $ 5250 Oct 31 Cash $ 105000 Notes Receivable $ 105000

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