Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

E83 E8-5 E8 E8-12 B D E H See Problem E8-12 2 3 4 5 (a) Prepare Journal entries to record these transactions Debit Credit

image text in transcribed
image text in transcribed
E83 E8-5 E8 E8-12 B D E H See Problem E8-12 2 3 4 5 (a) Prepare Journal entries to record these transactions Debit Credit General Journal Date Account Titles 11/01/20 Notes Receivable (Bohr) Cash 3 12/11/20 Notes receivable (Pine) Sales 0 1 2 3 12/16/20 Notes Receivable (Murdock) Accounts Receivable 5 $761 12/31/20 Interest receivable Interest income (Bohr) Interest income (Pine) Interest income (Murdock) Can you get the interest income credits to add up to $761 for close to it)? S60K at 7% for 2 months (November and December) $3600 at 8% for 20 days $12,000 at 9% for half a month EX 12 (LO), AP Moses Supply Co has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to accrue interest except at Exercises 8-33 Prepare entries for notes receivable transactions December 31 Nov. 1 Loaned $60,000 cash to C. Bohr on a 12-month, 7% note. Dec 11 Sold goods to K. R. Pine, Inc., receiving a $3,600,90-day, 8% note. 16 Received a $12,000, 180-day, 9% note to settle an open account from A. Murdock. Accrued interest revenue on all notes receivable. 31

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions