Selected transactions of larrys center carried out this year are as follows: Jan

Question

Selected transactions of larrys center carried out this year are as follows:

Jan 10- sold merchandise on account to Oscar stores; 3/10, n/30; $5692

Feb 9- received a 30-day, 5.75% note, dated feb 9, for $5692 from Oscar stores to apply on account

Mar 11- received $2719.27 from Oscar stores as partial payment on its note dated on $5692 for 30 days at 5.75%. received a new 30-day, 6.5% note for $3000, dated march 11.

Apr 4- sold merchandise to fletcher sports for $3479, receiving a 60-day, 6% note dated apr 4 (not previously recorded)

Apr 10- received a check from oscar stores for the amount owed on its note of march 11

Apr 12- discounted the note received from fletcher sports at landon bank; discount rate 6.5%

May 10- sold merchandise on account to lindstrom, inc; 2/10, n/30; $2910

June 9- received a 45-day, 6% note, dated june 9, for $2910 from linstrom, inc to apply on account

Record these transactions in the general journal.

Explanation / Answer

Selected transactions of larrys center carried out this year are as follows: Jan

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