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Entries for Receipt and Dishonor of Notes Receivable Journalize the following transactions in the accounts of Missouri Gaming Co., which operates a riverboat casino.
Entries for Receipt and Dishonor of Notes Receivable Journalize the following transactions in the accounts of Missouri Gaming Co., which operates a riverboat casino. Assume 360 days in a year. If an amount box does not require an entry, leave it blank. Round final answers to the nearest cent when necessary. Mar. 29. Received a $28,800, 60-day, 6% note dated March 29 from Karie Platt on account. Apr. 30. Received a $41,700, 60-day, 9% note dated April 30 from Jon Kelly on account. May 28. The note dated March 29 from Karie Platt is dishonored, and the customer's account is charged for the note, including interest. June 29. The note dated April 30 from Jon Kelly is dishonored, and the customer's account is charged for the note, including interest. Aug. 26. Cash is received for the amount due on the dishonored note dated March 29 plus interest for 90 days at 6% on the total amount debited to Karie Platt on May 28. Oct. 22. Wrote off against the allowance account the amount charged to Jon Kelly on June 29 for the dishonored note dated April 30. Mar. 29 Notes Receivable Accounts Receivable-Karie Platt 28,800 0 0 28,800 Apr. 30 Notes Receivable 41,700 0 Accounts Receivable-Jon Kelly 0 41,700 May 28 Accounts Receivable-Karie Platt 29,088 0 Notes Receivable 0 28,800 Interest Revenue 0 288
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