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Enter the balances at July 1 in the receivable accounts and post the entries to all of the recevable accounts, (Postenthes in the order of
Enter the balances at July 1 in the receivable accounts and post the entries to all of the recevable accounts, (Postenthes in the order of journal entries posted in the previous part.) fournalize the July transactions and the July 31 adjusting cntry for accrued interest reccivable, (lnterest is computed using 360 davs; amit cost of goods sold entries) (Credit occount titles are automatically indented when amount is entered, Do not indent manuvily. Record journal entries in the order presented in the problem.) Show the balance sheet presentation of the receivable accounts at July 31. Buffalo Industries closes its books on its July 31 year-end. The company does not make entries to acerue for interest excopt at its yearend. On June 30 , the Notes Recelvable account balance is $25,800. Notes Receivable include the following During July, the following transactions were completed. July 5 Made sales of $4,440 on Buffalo industries credit cards. 14. Made sales of $700 on Visa credit cards. The credit card service charge is 6%. 20 Recelved payment in full from Coote inc, on the amount due. 24 Recelved payment in full from Brady Co. on the amount due. July 14
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