Geary Company had the following transactions: Apr. 15 Issued a ($ 6,000,60)-day, eight percent note payable in

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Geary Company had the following transactions:

Apr. 15 Issued a \(\$ 6,000,60\)-day, eight percent note payable in payment of an account with Marion Company.

May 22 Borrowed \(\$ 50,000\) from Sinclair Bank, signing a 60 -day note at nine percent.

June 14 Paid Marion Company the principal and interest due on the April 15 note payable.

July 13 Purchased \(\$ 15,000\) of merchandise from Sharp Company; signed a 90 -day note with eight percent interest.

21 Paid the May 22 note due Sinclair Bank.

Oct. 2 Borrowed \(\$ 38,000\) from Sinclair Bank, signing a 120-day note at 12 percent.

11 Defaulted on the note payable to Sharp Company.

Required

a. Record these transactions in general journal form.

b. Record any adjusting entries for interest in general journal form. Geary Company has a December 31 year-end.

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