Entries for notes receivable, including year-end entries OBJ. 6 The following selected transactions were completed by Zippy

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Entries for notes receivable, including year-end entries OBJ. 6 The following selected transactions were completed by Zippy Do Co., a supplier of zippers for clothing:

2015 Dec. 3. Received from Chicago Clothing & Bags Co., on account, a $36,000, 90-day, 6% note dated December 3.

31. Recorded an adjusting entry for accrued interest on the note of December 3.

31. Recorded the closing entry for interest revenue.

2016 Mar. 2. Received payment of note and interest from Chicago Clothing & Bags Co.

Journalize the entries to record the transactions.

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Financial And Managerial Accounting

ISBN: 9781305267831,9781305267848

13th Edition

Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac

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