Book Show Me How Details of notes receivable and related entries Instructions Chart of Accounts First Question Journal Instructions Flush Mate Co wholesales bathroom fixtures. During the current fiscal year, Flush Mate Co. received the following notes Date Interest Rate Term 1 1 Mar 6 5% Face Amount $80,000 24,000 42,000 45 days 60 days 2 9 Apr. 23 July 20 Sept. 6 6 120 days 4 54,000 7 90 days 5 Nov 29 27,000 6 60 days 5 30 days 6. Dec 30 72,000 Required: 1. Determine for each note (a) the due date and (b) the amount of interest due at matunty, identifying each note by number Assume a 360 day and related entries Instructions Chart of Accounts First Question Journal Chart of Accounts CHART OF ACCOUNTS Flush Mate Co. General Ledger ASSETS REVENUE 110 Cash 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 111 Petty Cash 120 Accounts Receivable 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 2. En tes instructions Chart of Accounts First Question Journal 521 Adverusing Expense Chart of Accounts 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 522 Depreciation Expense Store Equipment 523 Delivery Expense 524 Repairs Expense 529 Selling Expenses 181 Land 530 Office Salaries Expense 531 Rent Expense 191 Store Equipment 192 Accumulated Depreciation Store Equipment 193 Office Equipment 194 Accumulated Depreciation Office Equipment 532 Depreciation Expense-Office Equipment 533 Insurance Expense LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 534 Office Supplies Expense 535 Store Supplies Expense 538 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense Save O Mccounts First Question Journal Chart of Accounts 194 Accumulated wepreciaun-Ollice Equipment 03 misurance LAPENSE 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense EQUITY 310 Owner, Capital 311 Owner, Drawing ok Show Me How tails of notes receivable and related entries Instructions Chart of Accounts first Question Journal First Question 1. Determine for each note (a) the due date and (b) the amount of interest due al maturity identifying each note by number Assume a 380 day yw whether Note Due Date Interest Due at Maturity 1 2. 3 4. 5 6 Save and ok Show Me How etails of notes receivable and related entries Instructions Chart of Accounts First Question Journal First Question Journal 2. Journalize the entry to record the dishonor of Note (3) on its due date Refer to the chart of accounts for the exact wording of the account NOW wines explanations Every line on a joumal page is used for debitor credit entries CNOW Jumats will automatically indent a cred entry when a ondt amount of calculating interest JOURNAL POSTER DESCRIPTION DATE DATE 2 Pro Save and Sub Check My Work All work saved 21 Online teachir X eAssignment/takeAssignment Main.do?irwoker=&taknassignmentSessionLocator=&inprogress=false Show Me How Details of notes receivable and related entries Instruction Chart of Accounts First Question Journal First Question Journal 3 Journalize the adjusting entry to record the accrued interest on Notes (5) and (6) on December 31. Refer to the chart of accounts for the exact wording of the account the CNOW urmate do not use ines for joumal explanations. Every line on a joumal paper is used for debit or credit entries CNOW journals will automatically indent a credit entry when a credit amount as entered Assume a 360 day year when calculating interest JOURNAL ACCOUNTINATION ASSETS LINE BUTY DEBIT CREDIT DATE DESCRIPTION 1 4 Journaline the entries to record the receipt of the amounts due on Notes (5) and (6) in January Refer to the chart of accounts for the exact wording of the account is CNOW ons doo use lines for journal explanations Every line on a surnal page is used for debitor credit entries CNOWjournals womatically indent acreditentry when act amount is entered Assures Preis V2 Online teacher X F keAssignment/take AssignmentMain.do?irwoker=-Stake AssignmentSessionLocator Siniprogress=false Book Show Me How Details of notes receivable and related entries Instructions Chart of Accounts First Question Journal First Question Journal 4. Journalize the entries to record the receipt of the amounts due on Notes (S) and (6) in January Refer to the chart of accounts for the exact wording of the account e CNOW use lines for journal explanations Every line on a journal page is used for debitor credit entries CNOW cumals will automatically indenta creat entry when a credit amount interdum 360-day year when calculating interest JOURNAL ROSE MEE DESCRIPTION DATE 1 2 1 Proteus Save and Est Submit Almere Check My Work All work saved TWURDELAssignmentSessionLocatoruinprogresse false eBook Show Me How Details of notes receivable and related entries Instructions Chart of Accounts First Question Journal First Question Journal NET JOURNAL ACCOUNTINATION ASSETS LILITIES QUITY DESCRIPTION DEBIT POST. HER CREDIT DATE 1 2 u More