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Entries for receipt and dishonor of note receivable Journalize the following transactions of Trapper Jons Productions. Assume 360 days in a year. If an amount
Entries for receipt and dishonor of note receivable
Journalize the following transactions of Trapper Jons Productions. Assume 360 days in a year. If an amount box does not require an entry, leave it blank.
Date | Transaction |
---|---|
June 23. | Received a $48,000, 90-day, 8% note dated June 23 from Radon Express Co. on account. |
September 21. | The note is dishonored by Radon Express Co. |
October 21. | Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to Radon Express Co. on September 21. |
Date | Account | Debit | Credit |
---|---|---|---|
June 23 | |||
Sept. 21 | |||
Oct. 21 | |||
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