3 of 5 View Policies Show Attempt History Current Attempt in Progress On December 31, 2020, Tobita Company had the following balances reported on its balance sheet: Notes Receivable $12,000 Interest Receivable $65.00 The following information is available for the notes receivable reported on December 31, 2020. Customer Note Principal Interest Rate Issue Date Term Interest Accrued 1 E. Tessier $3,000 5.00% Nov. 1,2020 3 months $25.00 2 R. Wolde 3,000 4.00% Nov. 30, 2020 5 months 10.00 3 D. Deng 6,000 6.00% Dec. 1, 2020 1 year 30.00 Total $12,000 Total $65.00 11.15/25 EI uestion 30 11.15 All notes require that the interest be paid on the maturity date of the note. All amounts owing on the notes were paid on time. Tobita prepares annual adjusting entries on December 31, the company's year end. Additional transactions of 2021: Mar. 1 Oct. 30 Dec 1 Received a $12.000, twelve-month, 5.00% note from T. Lalonde in settlement of an accounts receivable. Interest is due at maturity. Received a $3,900, three-month, 4.00% note from J. Han in settlement of an accounts receivable. Interest is due at maturity. Provided a $10,000 loan to Morgan Industriesin exchange for a two-year. 6.00% note with interest due at maturity Interest on the note is payable each year on November 30 Your answer is partially correct. Prepare all required journal entries related to the notes receivables during 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to 2 decimal places, eg. 52.50.) Date Account Titles and Explanation Debit Credit Question 3 of 5 < 11.15/25 E Date Account Titles and Explanation Debit Credit Feb. 11 Cash $3,037.50 Notes Receivable E. Tessier Interest Receivable Interest Revenue Mar. 1 Notes Receivable-T. Lalonde $10,500.50 Accounts Receivable Apr. 30- Cash Notes Receivable R. Wolde Interest Receivable 3050 Interest Revenue Oct 30- Notes Receivable-Han 3.900 $3.000 $25.00 $12.50 $10,500.50 3000 10:00 40.00 Dec. 1 Notes Receivable-B Morgan 10,000.00 Cash Dec. 1 Cash 6.36000 Notes Receivable Tessier Interest Receivable Interest Revenue eTextbook and Media 10,000.00 6.000.00 30.00 330.00 x Your answer is incorrect tries required on December 31, 2021 related to the notes receivables. (Credit account titles are Question 3 of 5 11.15/25 Prepare any adjusting entries required on December 31, 2021 related to the notes receivables. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.) Date Account Titles and Explanation Dec. 31 eTextbook and Media - Your answer is partially correct Debit Credit Show the amount and presentation for interest revenue on Tobita's multiple-step income statement for the year ended December 31.2021. (Round answer to 2 decimal places, eg. 52.75) Your answer is partially correct. Show the amount and presentation for interest revenue on Tobita's multiple-step income statement for the year ended December 31, 2021. (Round answer to 2 decimal places, e.g. 52.75.) Classification Interest revenue Other Revenues eTextbook and Media Amount 896 Your answer is partially correct. Show how the notes receivable will be reported on Tobita's classified balance sheet on December 31.2021 There were no estimated uncollectible amounts for the notes receivable. (List Current Assets in order of liquidity. Round answers to 2 decimal places eg. 52.75) Tobita Merchants 200 ENG Current Assets Tobita Merchants Balance Sheet (Partial) December 31, 2021 Notes Receivable Notes Receivable eTextbook and Media Save for Lat Attempts: 1 of 5 used Submit