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Here are some selected transactions carried out by Crandal's Nursery this year. Jan. 7 Sold merchandise on account to Alaska Gardens; 2/10,n/30;$5,930. Feb. 6 Received
Here are some selected transactions carried out by Crandal's Nursery this year. Jan. 7 Sold merchandise on account to Alaska Gardens; 2/10,n/30;$5,930. Feb. 6 Received a 30-day, 5.5 percent note, dated February 6 , for $5,930 from Alaska Gardens to apply on account. Mar. 8 Received \$2,027.18 from Alaska Gardens as payment on its note dated February 6:$2,000 as partial payment on the principal and $27.18 as interest on $5,930 for 30 days at 5.5 percent. Received a new 30 -day, 6 percent note for $3,930, dated March 8 . Apr. 7 Received a check from Alaska Gardens for the amount owed on its note of March 8. 13 Sold merchandise to L. Fritz for $3,399, receiving a 60 -day, 6.5 percent note, dated April 13 (not previously recorded). 21 Discounted the note received from L. Fritz at Kamdon Bank; discount rate, 7 percent. May 23 Sold merchandise on account to Hagar Company; 3/10,n/30;$1,424. June 22 Received a 60 -day, 6.5 percent note, dated June 22, for $1,424 from Hagar Required Company for the amount owed on account. Record these transactions in the general journal (pages 17 and 18)
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