Accounting for notes receivable (Learning Objective 6) 15–20 min.

Journalize the following transactions for Antoine Co. based on the notes receivable during the last 2 months of the year.

Nov 1 Dec 11 16 31 Loaned $120,000 cash to Jad on a 1-year, 10% note.

Sold goods to Rabie, Inc., receiving a $7,200, 90-day, 5% note.

Received a $20,000, 6-month, 9% note to settle an open account from Moe.

Accrued interest revenue on all notes receivable.

AppendixLO1