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asap pls The following selected transactions for notes receivable are for Walla Walla Limited. May 1 Received a six-month, 5%, $13,920 note on account from
asap pls
The following selected transactions for notes receivable are for Walla Walla Limited. May 1 Received a six-month, 5\%, \$13,920 note on account from Blackstone Limited. Interest is due at maturity. June 30 Accrued interest on the Blackstone note on this date, which is Walla Walla's year end. July Lent $12,000 cash to an employee, Noreen Wong, issuing a three-month, 7% note. Interest is due at the beginning of 1 each month, starting August 1. Aug. 1 Received the interest due from Ms. Wong. Sept. 1 Received the interest due from Ms. Wong. Oct. 1 Received payment in full for the employee note from Ms. Wong. Nov. 1 Wrote off the Blackstone note because Blackstone defaulted. Future payment is not expected. Record the above transactions for Walla Walla Limited. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.)Step by Step Solution
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