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Hello I cannot seem to get the answer for the December 31 journal entry. Please help :) Your answer is partially correct. Try again Bonita
Hello I cannot seem to get the answer for the December 31 journal entry. Please help :)
Your answer is partially correct. Try again Bonita Industries has the following transactions relatedt notes recelvable during the last 2 months of the vear, The company does not make entries t accrue interest except at December 31. (Omit cost goods sold entries.) Dec 11 Sold anods to K Dec. 16 Received a $7,200, 180-day, 9% note to settle an open account from A. Murdock. Dec. 31 Accrued interest revenue on all notes receivable. Pine. Inc., receivina a $1.800, 90-day, 5% note. Journalize the transactions for Bonita Industries (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Account Titles and Explanation Debit Credit Date Nov. 1 Notes Receivable 57000 Cash 57000 Notes Receivable Dec. 11 1800 Sales Revenue 1800 Dec. 16 Notes Receivable 7200 Accounts Recelvable 7200 Interest Receivable Dec. 31 673 673 Interest RevenueStep by Step Solution
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