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Posted on Sep 12, 2024

Aug. 7 Accepted a $12,000, 90-day, 184 note in granting a time extension on the past-due account receivable of Marti Co. Sep. 3 Accepted a

Aug. 7 Accepted a $12,000, 90-day, 184 note in granting a time extension on the past-due account receivable of Marti Co. Sep. 3 Accepted a $15,000, 60-day, 104 note in granting Rick Mitchell a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Mitchell for the September 3 note. Nov. 5 Received payment of principal plus interest from Martin for the August 7 note. Dec. 1 Wrote off the Wilson account against the Allowance for Doubtful Accounts. Requirement General Journal General Ledger Trial Balance Schedule of Receivables Calculation of Interest General Ledger Account Cash Account receivable - Other No. Debit Credit No. Debit Credit Date Jan 01 Balance 42,300 1 8 9 Date Jan 01 Feb 14 Nov 02 Nov 05 25,536 15,250 12,300 Balance 35,616 61.152 76,402 88,702 Accounts receivable - R. Mitchell Accounts recevable - Gonzalez Co. No. Debit Credit No. Dobit Credit Date Jan 01 Balance 15,000 0 Date Jan 01 Mar 02 Balance 10,000 0 10,200 7 Sep 03 15,000 2 10.000 5 May 31 10,200 Accounts receivable - Martin Accounts receivable - J. Wilson No. Debit Credit No. Debit Credit Date Jan 01 Aug 07 Balance 12,000 0 Date Jan 01 Mar 17 Balance 16,800 0 6 12,000 3 16,800 Prev 1 of 1 Next 1 Requirement General Journal General Ledger Thial Balance Schedule of Receivables Calculation of Interest General Ledger Account Cash Debit No. Credit Account receivable - Other Debit Credit No. Date Jan 01 Balance 42.300 1 8 9 Date Jan 01 Feb 14 Nov 02 Nov 05 25,536 15.250 12,300 Balance 35,616 61,152 76,402 88,702 No. Accounts receivable - R Mitchell Date Debit Credit Jan 01 Sep 03 15,000 No. Balance 15,000 0 Accounts receivable. Canualex Co. Date Debit Credit Jan 01 Mar 02 10.000 May 31 10.200 Balance 10.000 7 2 5 0 10,200 Accounts receivable - Martin Debit Credit No. No. Accounts receivable.J. Wilson Date Debit Credit Date Jan 01 Aug 07 Balance 12.000 0 Jan 01 Balance 16,800 0 6 12.000 3 16,800 4 Mar 17 Apr 16 Dec 01 16.898 10 16,898 0 16.898 No. Allowance for doubtful accounts Date Debit Credit Jan 01 Dec 01 16.898 Notes receivable - R. Mitchell Debit Credit Na Balance 21,000 4,102 10 Date Jan 01 Sep 03 Nov 02 7 15,000 Balance D 15,000 0 8 15,000 No. Notes ruceivable - Martin Debit Credit No. Date Balance Notes calvable - Gonaive Co. Date Debit Credit Jan 01 Mar 02 10,000 May 31 10,000 Balance 0 10.000 Jan 01 2 6 12,000 5 Aug 07 Nov 05 12.000 0 0 0 12.000 Notes receivable J. Wilson Notes receivable - P. Brown Na. Debit Credit Date Jan 01 Balance No. Debit Credit Date Jan 01 0 Balance 25.200 No. Debie Debit Credit No. Debit Credit 15 points Date Jan 01 Aug 07 Balance 12,000 6 12.000 Date Jan 01 Mar 17 Apr 16 Dec 01 3 4 10 16,800 Balance 16,800 0 16,898 0 16,898 16.898 Allowance for doubtful accounts No. Notes receivable R. Mitchell Debit Credit Date Debit Credit No. Balance Jan 01 Dec 01 Balance 21,000 4,102 0 10 16,898 Date Jan 01 Sep 03 Nov 02 7 15,000 15,000 0 8 15,000 Notes receivable. Gonzalez Co. Notes recevable - Martin Debit Credit No. Debit Credit Balance No. 0 Date Jan 01 Mar 02 May 31 Date Jan 01 Aug 07 Nov 05 Balance 0 12.000 0 10,000 10.000 2 5 12,000 6 9 10.000 12,000 Notes recolvable.J. Wilson Notas receivable - P. Brown Debit Credit No. Debit Credit No Balance Date Jan 01 Mar 17 Apr 16 25,200 Balance 0 16,800 0 Date Jan 01 Feb 14 3 16,800 1 25 200 4 16.800 Merchandise Inventory Interest receivable Debit Credit No. Date No. Debit Credit Balance B4 Date Jan 01 Balance 5.000 Jan 01 Feb 14 1 84 0 Interest revenue Owner's Capital Debit Credit No. No. Debit Date Jan 01 Credit Balance Balance 141,000 0 1 Date Jan 01 Feb 14 Apr 16 May 31 Nov 02 Nov 05 252 98 4 5 252 350 550 800 1,100 200 250 300 8 9 Aug. 7 Accepted a $12,000, 90-day, 184 note in granting a time extension on the past-due account receivable of Marti Co. Sep. 3 Accepted a $15,000, 60-day, 104 note in granting Rick Mitchell a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Mitchell for the September 3 note. Nov. 5 Received payment of principal plus interest from Martin for the August 7 note. Dec. 1 Wrote off the Wilson account against the Allowance for Doubtful Accounts. Requirement General Journal General Ledger Trial Balance Schedule of Receivables Calculation of Interest General Ledger Account Cash Account receivable - Other No. Debit Credit No. Debit Credit Date Jan 01 Balance 42,300 1 8 9 Date Jan 01 Feb 14 Nov 02 Nov 05 25,536 15,250 12,300 Balance 35,616 61.152 76,402 88,702 Accounts receivable - R. Mitchell Accounts recevable - Gonzalez Co. No. Debit Credit No. Dobit Credit Date Jan 01 Balance 15,000 0 Date Jan 01 Mar 02 Balance 10,000 0 10,200 7 Sep 03 15,000 2 10.000 5 May 31 10,200 Accounts receivable - Martin Accounts receivable - J. Wilson No. Debit Credit No. Debit Credit Date Jan 01 Aug 07 Balance 12,000 0 Date Jan 01 Mar 17 Balance 16,800 0 6 12,000 3 16,800 Prev 1 of 1 Next 1 Requirement General Journal General Ledger Thial Balance Schedule of Receivables Calculation of Interest General Ledger Account Cash Debit No. Credit Account receivable - Other Debit Credit No. Date Jan 01 Balance 42.300 1 8 9 Date Jan 01 Feb 14 Nov 02 Nov 05 25,536 15.250 12,300 Balance 35,616 61,152 76,402 88,702 No. Accounts receivable - R Mitchell Date Debit Credit Jan 01 Sep 03 15,000 No. Balance 15,000 0 Accounts receivable. Canualex Co. Date Debit Credit Jan 01 Mar 02 10.000 May 31 10.200 Balance 10.000 7 2 5 0 10,200 Accounts receivable - Martin Debit Credit No. No. Accounts receivable.J. Wilson Date Debit Credit Date Jan 01 Aug 07 Balance 12.000 0 Jan 01 Balance 16,800 0 6 12.000 3 16,800 4 Mar 17 Apr 16 Dec 01 16.898 10 16,898 0 16.898 No. Allowance for doubtful accounts Date Debit Credit Jan 01 Dec 01 16.898 Notes receivable - R. Mitchell Debit Credit Na Balance 21,000 4,102 10 Date Jan 01 Sep 03 Nov 02 7 15,000 Balance D 15,000 0 8 15,000 No. Notes ruceivable - Martin Debit Credit No. Date Balance Notes calvable - Gonaive Co. Date Debit Credit Jan 01 Mar 02 10,000 May 31 10,000 Balance 0 10.000 Jan 01 2 6 12,000 5 Aug 07 Nov 05 12.000 0 0 0 12.000 Notes receivable J. Wilson Notes receivable - P. Brown Na. Debit Credit Date Jan 01 Balance No. Debit Credit Date Jan 01 0 Balance 25.200 No. Debie Debit Credit No. Debit Credit 15 points Date Jan 01 Aug 07 Balance 12,000 6 12.000 Date Jan 01 Mar 17 Apr 16 Dec 01 3 4 10 16,800 Balance 16,800 0 16,898 0 16,898 16.898 Allowance for doubtful accounts No. Notes receivable R. Mitchell Debit Credit Date Debit Credit No. Balance Jan 01 Dec 01 Balance 21,000 4,102 0 10 16,898 Date Jan 01 Sep 03 Nov 02 7 15,000 15,000 0 8 15,000 Notes receivable. Gonzalez Co. Notes recevable - Martin Debit Credit No. Debit Credit Balance No. 0 Date Jan 01 Mar 02 May 31 Date Jan 01 Aug 07 Nov 05 Balance 0 12.000 0 10,000 10.000 2 5 12,000 6 9 10.000 12,000 Notes recolvable.J. Wilson Notas receivable - P. Brown Debit Credit No. Debit Credit No Balance Date Jan 01 Mar 17 Apr 16 25,200 Balance 0 16,800 0 Date Jan 01 Feb 14 3 16,800 1 25 200 4 16.800 Merchandise Inventory Interest receivable Debit Credit No. Date No. Debit Credit Balance B4 Date Jan 01 Balance 5.000 Jan 01 Feb 14 1 84 0 Interest revenue Owner's Capital Debit Credit No. No. Debit Date Jan 01 Credit Balance Balance 141,000 0 1 Date Jan 01 Feb 14 Apr 16 May 31 Nov 02 Nov 05 252 98 4 5 252 350 550 800 1,100 200 250 300 8 9