Journalize the following transactions for Falcon Company: 201X Apr. 18 Received an $11,000, 90-day, 4% note from
Question:
Journalize the following transactions for Falcon Company:
Transcribed Image Text:
201X Apr. 18 Received an $11,000, 90-day, 4% note from Cathy Bora in payment of account past due. 9 Wrote off the April Deacy account as uncollectible for $640. (Falcon uses the Allowance method to record bad debts.) May July 17 Cathy Bora paid Falcon the note in full. Nov. 11 Gave Quiet Company a $21,000, 30-day, 8% note as a time extension of account now past due. 15 April Deary paid Falcon the amount previously written off on May 9. 3 Discounted its own $6,000, 60-day note at Dunstable Bank at 9%. 5 Received a $5,000, 90-day, 10% note dated December 5 from Vickey Jacob in payment of account past due. Nov. Dec. Dec. Dec. 11 Paid principal and interest due on the note issued to Quiet Company from November 11. 16 Received a $15,000, 90-day, 10% note from Zoe Company in payment of account past due. Dec. Dec. 23 Discounted the Vickey Jacob note ta Swanson Bank at 10%. Dec. 31 Recorded adjusting entries as appropriate.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (8 reviews)
FALCON COMPANY GENERAL JOURNAL PAGE 2 Date 201X Account Titles and Description PR Dr Cr Apr 18 Notes ...View the full answer
Answered By
Gabriela Rosalía Castro
I have worked with very different types of students, from little kids to bussines men and women. I have thaught at universities, schools, but mostly in private sessions for specialized purpuses. Sometimes I tutored kids that needed help with their classes at school, some others were high school or college students that needed to prepare for an exam to study abroud. Currently I'm teaching bussiness English for people in bussiness positions that want to improve their skills, and preparing and ex-student to pass a standarized test to study in the UK.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
Question Posted:
Students also viewed these Business questions
-
Journalize the following transactions for Alden Company: 201X Apr. 18 Received a $14,000, 90-day, 9% note from Becky Falcon in payment of account past due. May 9 Wrote off the Francis cleary account...
-
Journalize the following transactions for the Jamin Jimmys music store. a. Purchased $8,900 of merchandise on account, terms 3/15, n/30, FOB shipping point. b. Paid $180 to the freight company for...
-
Journalize the following transactions for the Prado Company: Oct. 8 Sold $ 9,200 of merchandise to Zen, Inc., on account, terms 2 10, n 60. The merchandise had a cost of $ 6,000. Oct. 10 Zen, Inc....
-
As an employer, what are steps you can take to avoid discrimination litigation?
-
What product is formed when Propionic acid is treated first with Br2 and one equivalent of PBr3, then with a large excess of ammonia?
-
The dataset Starting Salaries contains the salaries of recent graduates in chemical and electrical engineering. Construct a 95% confidence interval for the average starting salary of Chemical...
-
To provide a simplified calculation method for the variable flow rate leaching problem solved in Example 14-2, your boss asks you to force-fit the problem so that a Kremser equation solution can be...
-
Pletcher Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first 2 quarters of 2017. All that remains in...
-
52. Which distribution is least likely to be skewed to the right by high values? A. Annual incomes of n passengers on a flight from New York to London B. Weekend gambling losses of n customers at a...
-
Happyville Hospital and Sunnyville Hospital are located across the street from each other, and the respective hospital boards have voted to merge the facilities into the Limestone Health Care System....
-
Journalize the following transactions for Jones Company: 201X June 18 Jones Company disCounted its own $49,000, 90-day note at International Bank at 16%. 16 Paid the amount due on the note of June...
-
Go to https://tinyurl.com/slaterca14e to access Amazons 2016 Annual Report. Go to page 37 and find the balance of interest income in 2016.
-
Repeat Problem 88 if the plane flies 30.0 west of south at 180 m/s instead. Repeat Problem An airplane is flying due north at 180 m/s. Earth's magnetic field has a northward component of 0.30 mT and...
-
Suppose that, in early February 2016, you bought shares of Apple (AAPL). This was five years ago and now you decide to evaluate them to see if you have done well with this investment. The table below...
-
Consider an RL circuit with a 10 Volt battery, a 5 Ohm resistor, and an inductor (all in series). 0.2 seconds after the circuit is connected, the current flowing in the circuit is 0.5669 Amps. How...
-
Alyssa is preparing to retire from BorgWarner on September 27, 2039, but currently she only has $45,400.00. If she can get 5.60%, how much must she contribute each month, the first contribution will...
-
Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 340 units from the January 30 purchase, 5 units...
-
You are one of five owners of Outside Settings (OS), a profitable company that sells outdoor furniture from its mega-sized retail store in Florida.OS also sells furniture nationwide to customers...
-
Florita Santos, a middle-aged woman, is admitted to the coronary care unit with a diagnosis of left ventricular failure resulting from a myocardial infarction. Her history indicated that she was...
-
An educational researcher devised a wooden toy assembly project to test learning in 6-year-olds. The time in seconds to assemble the project was noted, and the toy was disassembled out of the childs...
-
Journalize the following transaction in correct form: 201X Apr. 1 Sold merchandise on account, $1,220. The merchandise cost $670.
-
Journalize the following transaction in correct form: 201X Mar. 15 A customer returned merchandise for a cash refund of $215. The item cost the seller $95.
-
Journalize the following transaction in correct form: 201X Mar. 20 The business returned to the vendor a damaged inventory item that cost $420.
-
Find the AV of $2100 at the end of 14 years at a nominal annual interest rate of 6.4% compounded quarterly for the first 8 years and a nominal annual interest rate of 2.4% compounded monthly...
-
Bond A$ 5 0 0 Bond B$ 8 0 0 Bond C$ 6 0 0 Bond D$ 7 5 0 Use the table above. If you do receive your bond payment for Bond A , what is the interest rate you will receive given each one is a 1 year $ 1...
-
One page paper about how the accountants in Office Space and Ghostbusters are portrayed.
Study smarter with the SolutionInn App