8-2-7

Mar. 29 Received a $51,600, 60-day, 6% note dated March 29 from Kane Platt on account. Received a $36,000, 60-day, 8% note dated April 30 from Jon Kelly on account. Apr. 30 28 The note dated March 29 from Karie Platt is dishonored, and the customer's account is charged for the note, including interest. The note dated April 30 from Jon Kelly is dishonored, and the customer's account is charged for the note, including interest. Cash is received for the amount due on the dishonored note dated March 29 plus interest for 90 days at 8% on the total amount debited to Kane Platt on May 28 Wrote off against the allowance account the amount charged to Jon Kelly on June 29 for the dishonored note dated April 30 June 29 Aug. 26 Oct. 22 Journalize the above transactions in the accounts of Missouri Gaming Co., which operates a riverboat casino. Refer to the Chart of Accounts for exact wording of account tites. Assume a 360-day year CHART OF ACCOUNTS Missouri Gaming Co. General Ledger ASSETS REVENUE 110 Cash 111 Petty Cash 121 Accounts Receivable-Karie Platt 122 Accounts Receivable-Jon Kelly 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Repairs Expense 529 Selling Expenses 530 Office Salaries Expense 531 Rent Expense 532 Depreciation Expense-Office Equipment Equipment 193 Office Equipment 194 Accumulated Depreciation-Office 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense Equipment LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY 310 Common Stock 311 Retained Eamings 312 Dividends 313 Income Summary