Question
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.
June 23 | Received a $48,000, 90-day, 8% note dated June 23 from Radon Express Co. on account. |
Sept. 21 | The note is dishonored by Radon Express Co. |
Oct. 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. |
June 23 | Accounts Receivable-Radon Express Co.Allowance for Doubtful AccountsBad Debt ExpenseInterest ReceivableNotes ReceivableNotes Receivable | Notes Receivable | Notes Receivable |
Accounts Receivable-Radon Express Co.Allowance for Doubtful AccountsBad Debt ExpenseInterest RevenueNotes ReceivableAccounts Receivable-Radon Express Co. | Accounts Receivable-Radon Express Co. | Accounts Receivable-Radon Express Co. | |
Sept. 21 | Accounts Receivable-Radon Express Co.Allowance for Doubtful AccountsInterest ReceivableInterest RevenueNotes ReceivableAccounts Receivable-Radon Express Co. | Accounts Receivable-Radon Express Co. | Accounts Receivable-Radon Express Co. |
Accounts Receivable-Radon Express Co.Allowance for Doubtful AccountsInterest PayableInterest ReceivableNotes ReceivableInterest Receivable | Interest Receivable | Interest Receivable | |
Accounts Receivable-Radon Express Co.Allowance for Doubtful AccountsInterest PayableInterest ReceivableInterest RevenueInterest Receivable | Interest Receivable | Interest Receivable | |
Oct. 21 | Accounts Receivable-Radon Express Co.Bad Debt ExpenseCashInterest RevenueNotes ReceivableCash | Cash | Cash |
Accounts Receivable-Radon Express Co.Allowance for Doubtful AccountsCashInterest PayableNotes ReceivableInterest Payable | Interest Payable | Interest Payable | |
Allowance for Doubtful AccountsBad Debt ExpenseCashInterest RevenueNotes ReceivableAllowance for Doubtful Accounts | Allowance for Doubtful Accounts | Allowance for Doubtful Accounts |
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