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Dylex Corporation entered into the following transactions involving short-term liabilities during 2014 and 2015 Prepare journal entries to record these transactions for Dylex Corporation. Enter
Dylex Corporation entered into the following transactions involving short-term liabilities during 2014 and 2015 Prepare journal entries to record these transactions for Dylex Corporation. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). Round all amounts to the nearest cent. a. January 6 : Dylex Corporation purchased merchandise from Segura Corporation for $21,000 under credit terms of 230, n90. b, April 6 : $11,000 cash was paid to Segura Corporation and the remaining balance of $10,000 was replaced with a 30-day, 9%, note. c.The note to Segura Corporation was paid at maturity. d. August 25: $26,000 was borrowed from Royal Bank by signing a 9%, 90-day note. e. Paid the note to Royal Bank at maturity. f. December 19: $21,000 was borrowed from Canada Trust Bank by signing a 12%, 30-day note. g. December 31 : An adjusting entry of the accrual of interest on the note to Canada Trust Bank was recorded. h.?The note to Canada Trust Bank was paid at maturity. General Journal Page GJ1 Date Account/Explanation F DebitCredit
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