ENTRIES FOR NOTES RECEIVEABLE. SPRING DEISGNS AND DECORATORS ISSUED A 180 DAY 4% NOTE FOR $76,800 DATED APRIL 13
- answer all parts
ies for notes receivable Chart of Accounts Starting Questions Journal Structions ating Designs & Decorators issued a 180 day, 4% note for $76,800, dated April 13 to Jaffe Furniture Company on account Required: A Determine the due date of the note. B. Determine the maturity value of the note. Assume a 360-day year when calculating interest C. Journalize the entries to record the following: (1) receipt of the note by Jaffe Furniture and (2) receipt of payment of the note at maturity. Refer to the Chart of Accounts for exact wording of account titles. R ior notes receivable Starting Questions Journal Instructions Chart of Accounts CHART OF ACCOUNTS Jaffe Furniture Company General Ledger REVENUE 410 Sales 610 Interest Revenue ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Spring Designs & Decorators 129 Allowance for Doubtful Accounts 132 Notes Receivable EXPENSES 510 Cost of Merchandise Sold LIUN.LUNUML USSyment/takeAssignment Main.dolinvoker=&takeAssignmentSessionlexcator Brinprogress=false eBook Show Me How Calculator Print Item Entries for notes receivable Starting Questions Journal Instructions Chart of Accounts 141 Merchandise Inventory 145 Office Supplies 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 146 Store Supplies 151 Prepaid Insurance 523 Delivery Expense 181 Land 191 Store Equipment 192 Accumulated Depreciation Store Equipment 193 Office Equipment 194 Accumulated Depreciation Office Equipment 524 Repairs Expense 529 Selling Expenses 530 Office Salaries Expense 531 Rent Expense 532 Depreciation Expense-Office Equipment LIABILITIES 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 210 Accounts Payable Previous Entries for notes receivable Starting Questions Journal Instructions Chart of Accounts LIABILITIES 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary Starting Questions Journal Instructions Chart of Accounts Starting Questions A Determine the due date of the note. B. Determine the maturity value of the note. Assume a 360-day year when calculating interest O s ignmentSessionLocator Binprogress=false Entries for notes receivable Starting Questions Journal Instructions Chart of Accounts Starting Questions Journal C. (1) Joumalize the entry to record the receipt of the note by Jaffe Furniture. Refer to the Chart of Accounts for exact wording of account titles. ACCOUNTING EQ JOURNAL LES POST REF DESCRIPTION C (2) Unaze the entry to record the receipt of payment of the note at maturity. Refer to the Chart of Accounts for exact nording of account Previous 7 more Check My Virk uses remaining .com/ilm/takeAssignment/takeAssignment Main.doFinvokera&take AssignmentSessionLocator Binprogress-false Enres or no ES ivable Starting Questions Journal Instructions Chart of Accounts Starting Questions Journal C (2) Journalize the entry to record the receipt of payment of the note at maturity. Refer to the Chart of Accounts for exact wording of account titles ACCOUNTING EQU JOURNAL ASSETS CREDIT LIABILITIES POST REF DESCRIPTION ies for notes receivable Chart of Accounts Starting Questions Journal Structions ating Designs & Decorators issued a 180 day, 4% note for $76,800, dated April 13 to Jaffe Furniture Company on account Required: A Determine the due date of the note. B. Determine the maturity value of the note. Assume a 360-day year when calculating interest C. Journalize the entries to record the following: (1) receipt of the note by Jaffe Furniture and (2) receipt of payment of the note at maturity. Refer to the Chart of Accounts for exact wording of account titles. R ior notes receivable Starting Questions Journal Instructions Chart of Accounts CHART OF ACCOUNTS Jaffe Furniture Company General Ledger REVENUE 410 Sales 610 Interest Revenue ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Spring Designs & Decorators 129 Allowance for Doubtful Accounts 132 Notes Receivable EXPENSES 510 Cost of Merchandise Sold LIUN.LUNUML USSyment/takeAssignment Main.dolinvoker=&takeAssignmentSessionlexcator Brinprogress=false eBook Show Me How Calculator Print Item Entries for notes receivable Starting Questions Journal Instructions Chart of Accounts 141 Merchandise Inventory 145 Office Supplies 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 146 Store Supplies 151 Prepaid Insurance 523 Delivery Expense 181 Land 191 Store Equipment 192 Accumulated Depreciation Store Equipment 193 Office Equipment 194 Accumulated Depreciation Office Equipment 524 Repairs Expense 529 Selling Expenses 530 Office Salaries Expense 531 Rent Expense 532 Depreciation Expense-Office Equipment LIABILITIES 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 210 Accounts Payable Previous Entries for notes receivable Starting Questions Journal Instructions Chart of Accounts LIABILITIES 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary Starting Questions Journal Instructions Chart of Accounts Starting Questions A Determine the due date of the note. B. Determine the maturity value of the note. Assume a 360-day year when calculating interest O s ignmentSessionLocator Binprogress=false Entries for notes receivable Starting Questions Journal Instructions Chart of Accounts Starting Questions Journal C. (1) Joumalize the entry to record the receipt of the note by Jaffe Furniture. Refer to the Chart of Accounts for exact wording of account titles. ACCOUNTING EQ JOURNAL LES POST REF DESCRIPTION C (2) Unaze the entry to record the receipt of payment of the note at maturity. Refer to the Chart of Accounts for exact nording of account Previous 7 more Check My Virk uses remaining .com/ilm/takeAssignment/takeAssignment Main.doFinvokera&take AssignmentSessionLocator Binprogress-false Enres or no ES ivable Starting Questions Journal Instructions Chart of Accounts Starting Questions Journal C (2) Journalize the entry to record the receipt of payment of the note at maturity. Refer to the Chart of Accounts for exact wording of account titles ACCOUNTING EQU JOURNAL ASSETS CREDIT LIABILITIES POST REF DESCRIPTION
