44) On January 1, Cooper Company accepted a one-year note for $5,000 at 4% from one of its customers. When the note matured on December 31, the customer was unable to pay, and the company treated it as a dishonored note. Prepare the journal entry that Cooper will make to record the dishonored note. Omit explanation.

45) SPECIAL JOURNALS and SUBSIDIARY LEDGERS:

For each of the following transactions, indicate WHICH Journal and WHICH special Ledger if any (Acct Rec. or Acct Pay) should be used to record the transaction:

a)Issued check #421 for payment of salaries .

b)Sold Merchandise for CASH , $50,000.

c) Purchase supplies on account $4,500.

d) Corrected a prior journal entry re payroll

e) Received payment from a customer.

f)Paid a creditors bill re supplies purchased last month.

g) Purchased Inventory for cash.

h) Returned defective merchandise to the creditor

i)A customer returned merchandise to us. The sale was made last month.

j)Received a bill from American Express for Travel.

38) On December 1, 2019, Pinewood Company sold machinery to a customer for $2,000. Pinewood regularly sells machinery. The customer could not pay at the time of sale but agreed to pay 9 months later and signed a 9-month note at 12% interest. Prepare the journal entry to record the revenue at the time of sale. Ignore the entry for cost of goods sold. Omit explanation.

39) ABC Accepted a90 day, 8%, $50,000 Note Receivable from from a customer to replace an Account Receivable. The note matured and ABC received $50,500 at maturity. Record the entry for the collection of the note receivable.