Exercise 8-10

Sheridan Company has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to accrue interest except at December 31. (Omit cost of goods sold entries.)

Nov. 1		Loaned $55,800 cash to C. Bohr on a 12-month, 5% note.
Dec. 11		Sold goods to K. R. Pine, Inc., receiving a $5,400, 90-day, 6% note.
Dec. 16		Received a $19,200, 180-day, 12% note to settle an open account from A. Murdock.
Dec. 31		Accrued interest revenue on all notes receivable.

Journalize the transactions for Sheridan Company