E8-8 Record the following transactions in the journal of Glacial Enterprises, Inc.: Nov. 1 Loaned $50,000 cash

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E8-8 Record the following transactions in the journal of Glacial Enterprises, Inc.: Nov. 1 Loaned $50,000 cash to Victor Rashad on a one-year, 8% note. Dec. 3 Sold goods to Lendox Corp., receiving a 90-day, 11% note for $3.750. 16 Received a $4.000, six-month, 12% note on account from CFO Co. 31 Accrued interest revenue on all notes receivable. Use a 360-day year for interest computations.

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Accounting

ISBN: 9780130906991

5th Edition

Authors: Charles T. Horngren, Walter T. Harrison, Linda S. Bamber, Betsy Willis, Becky Jones

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