2018

Dec. 6 Received a $6,000, 90-day, 8% note in settlement of an overdue accounts receivable from Jazz Music.

31 Made an adjusting entry to accrue interest on the Jazz Music note. 31 Made a closing entry for interest revenue.

2019

Mar. 6 Collected the maturity value of the Jazz Music note.

Jun. 30 Loaned $14,000 cash to London Sounds, receiving a six-month, 12% note.

Oct. 2 Received a $10,000, 60-day, 12% note for a sale to ZZZ Music. Ignore Cost of Goods Sold.

Dec. 1 ZZZ Music dishonored its note at maturity.

1 Wrote off the receivable associated with ZZZ Music. (Use the allowance method.)

30 Collected the maturity value of the London Sounds note.

Consider the following transactions for Smith's Publishing. (Click the icon to view the transactions.) Journalize all transactions for Smith's Publishing. Round all amounts to the nearest dollar. (For notes stated in days, use a 365-day year. Round your final answers to the nearest whole dollar. Record debits first, then credits. Exclude explanations from journal entries. Check your spelling carefully and do not abbreviate. When using the receivable accounts, enter the customer names exactly as it is presented in the problem data. For example: Note Receivable-Happy Town Music.) Dec. 6: Received a $6,000, 90-day, 8% note in settlement of an overdue accounts receivable from Jazz Music. More Info Date Accounts and Explanation Debit Credit 2018 Dec. 6 2018 Dec. 6 Received a $6,000, 90-day, 8% note in settlement of an overdue accounts receivable from Jazz Music. 31 Made an adjusting entry to accrue interest on the Jazz Music note. 31 Made a closing entry for interest revenue. 2019 Mar. 6 Collected the maturity value of the Jazz Music note. Jun. 30 Loaned $14,000 cash to London Sounds, receiving a six-month, 12% note. Oct. 2 Received a $10,000, 60-day, 12% note for a sale to ZZZ Music. Ignore Cost of Goods Sold. Dec. 1 ZZZ Music dishonored its note at maturity. 1 Wrote off the receivable associated with ZZZ Music. (Use the allowance method.) 30 Collected the maturity value of the London Sounds note. Print Done