"Exercise 9-12 a-b Metlock Supply Co, has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest except at December 31 Nov. 1 Dec. 11 Loaned $18,500 cash to Manny Lopez on a 12-month, 12% note. Sold goods to Ralph Kremer, Inc., receiving a s 45,000, 90-day, 10% note. Received a $47,600, 180 day, 12% note n exchange for Joe Ferrettisotstanding bounts Accrued interest revenue on all notes receivable. 31 Your answer is partially correct. Try again. the transactions for Metlock Supply Co. (Ignore entries for cost of goods sold.) (Credit itles are automatically indented when amount is entered. Do not indent manually Use 360 days for calculation. Round answers to 0 decimal entries in the order presented in the problem.) places, e.g. 5,275. Record journal Date Account Titles and Explanation Debit 0 ales Revenu Oec. 16 Notes Receivable Dec. 3 interest Revenue cash Your answer is partially correct. Try again. the Lopez note at its maturity in 2021. (Credit account titles are automatically indented when amount is entered. calculation.) Do not indent manually. Use 360 days for Debit Credit Date Account Titles and Explanation Nov. 1 Cash terest Reven Page 2 of 2 Exercise 9-12 a-b 1849 18509 Question Attempts: Unlimited Copyright 2000-2019 by Johe Wiey&Sons Inc. or reated companies All nights reserved