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Easy Meals completed the following selected transactions. (Click here to see the transactions.) Read the requirements. Requirement 1. Record the transactions in Easy Meals' journal.
Easy Meals completed the following selected transactions. (Click here to see the transactions.) Read the requirements. Requirement 1. Record the transactions in Easy Meals' journal. Assume that no sales returns are expected. Round all amounts to the nearest dollar. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Oct 31: Sold goods to Bob's Foods, receiving a $31,000, three-month, 5% note. (You do not need to make the cost of goods sold journal entry for this transaction.) Date 2021 Oct 31. Journal Entry Accounts Debit Credit Dec 31: Made an adjusting entry to accrue interest on the Bob's Foods note. (Round your final calculation to the nearest whole dollar.) Date 2021 Dec 31 Journal Entry Accounts Debit Credit More info 2021 Oct Jan 31: Collected the Bob's Foods note. (Round your final calculations to the nearest whole dollar.) 31 Sold goods to Bob's Foods, receiving a $31,000, three-month, 5% note. (Yout do not need to make the cost of goods sold journal entry for this transaction.) Dec 31 Made an adjusting entry to accrue interest on the Bob's Foods note. Journal Entry 2022 Date 2022 Jan 31 Accounts Debit Jan Credit 31 Collected the Bob's Foods note. Nov Dec 11 Loaned $15,200 cash to Street Provisions, receiving a 90-day, 9.75% note. 31 Accrued the interest on the Street Provisions note. Nov 11: Loaned $15,200 cash to Street Provisions, receiving a 90-day, 9.75% note. Date 2022 Nov 11 Journal Entry Accounts Debit Credit Print Done Nov 11: Loaned $15,200 cash to Street Provisions, receiving a 90-day, 9.75% note. Date 2022 Nov 11 Journal Entry Accounts Debit Credit Dec 31: Accrued the interest on the Street Provisions note. (Use 365 days in the interest calculation. Round your final calculations to the nearest whole dollar.) Date 2022 Dec 31 Journal Entry Accounts Debit Credit Requirement 2. Show what Easy Meals will report on its comparative classified balance sheet at December 31, 2022, and December 31, 2021, for Notes Receivable and Interest Receivable. (Only report the related transactions given. Ignore the cash balance as the transactions provided are only selected transactions.) Balance Sheet (Partial) 2022 2021
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