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1 More Info - X 2018 Jul. 1 Loaned $11,000 cash to Bill McCabe on a one-year, 10% note. Sold goods to Lawn Masters, receiving
1 More Info - X 2018 Jul. 1 Loaned $11,000 cash to Bill McCabe on a one-year, 10% note. Sold goods to Lawn Masters, receiving a 90-day, 9% note for $6,000. Sep. 6 Ignore Cost of Goods Sold. Sep. 30 Made a single entry to accrue interest revenue on both notes. ? Collected the maturity value of the Lawn Masters note. 2019 Jul. 1 Collected the maturity value of the McCabe note. Print Done The following selected transactions occurred during 2018 and 2019 for Red Sea Importers. The company ends its accounting year on September 30 (Click the icon to view the transactions) Journislice all required entries. Make sure to determine the missing maturity dale (Record debits first, then credits Select the explanation on the last line of the journal entry table) Jl. 1. Leaned $11,000 cash lo B1 Meste un sche-ye 10% nule Date Accounts and Explanation Deba Credit 2018 Jul 1 UN Sep 6: Sold goods to Laun Masters, recching a 90-day, 9 note for $6,000. Ignore Cost of Good: Sold. Dale Accounts and Explanation Debit Credit 2018 Septi Sep 20: Made a single entry to accrue interest revenue on both notes (Usa month for the one-year note interest computation and a 35-day year for the 90 day nata interest computation Hound to the nearest cont.) Date Accounts and Explanation Credit 2018 Sep 30 Coleted the maturity value of the Lowestes note. Make sure to determine the missing maturity date (Prepare a single compound journal entry. Use : 365-day year for this interes computation Round to the recent) Date Accounts and Explanation Debit Credit Jul. 1: Collected the maturity value of the McCabe note. (Prepare a single compound joumal entry. Use months for this interest computation) Dule Accounts and explanation Debat Credit 2019 Choose from any list or enter any number in the input fields and then continue to the next question 2
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