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Current Attempt in Progress Sandhill Supply Co. has the following transactions: Nov. 1 15 Dec. 1 15 31 Mar. 1 June 15 Loaned $69,600 cash
Current Attempt in Progress Sandhill Supply Co. has the following transactions: Nov. 1 15 Dec. 1 15 31 Mar. 1 June 15 Loaned $69,600 cash to A. Morgan on a one-year, 8% note. Sold goods to H. Giorgi on account for $14,400, terms n/30. The goods cost Sandhill $9,000. Sandhill uses the perpetual inventory system. Sold goods to Wrightman Inc., receiving a $22,800, three-month, 6% note. The goods cost Sandhill $15,200. H. Giorgi was unable to pay her account. Giorgi gave Sandhill a six-month, 7% note in settlement of her account. Accrued interest revenue on all notes receivable. Interest is due at maturity. Collected the amount owing on the Wrightman note. H.Giorgi defaulted on the note. Future payment is expected. Record the transactions for Sandhill Supply Co. (Credit account titles are automatically indented when the 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. List all debit entries before credit entries. Record journal entries in the order presented in the problem.)
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