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I can figure out the ending balance for July 31 Show Attempt History Current Attempt in Progress Vaughn Company closes its books on its July
I can figure out the ending balance for July 31
Show Attempt History Current Attempt in Progress Vaughn Company closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $26,000. Notes Receivable include the following. Date Maker Face Value Term Maturity Date Interest Rate April 21 Coote Inc. $6.000 90 days July 20 May 25 Brady Co. 8.400 60 days July 24 1096 June 30 BMG Corp. 11.600 6 months December 31 During July, the following transactions were completed. July 5 Made sales of 54.400 on Vaughn credit cards. Made sales o 15700 on Visa credit cards. The credit card service charge is 49. 14 20 Received payment in full from Coote Inc. on the amount due. 88 June 30 BMG Corp. 11,600 6 months December 31 6% During July, the following transactions were completed. July 5 Made sales of $4,400 on Vaughn credit cards. 14 Made sales of $700 on Visa credit cards. The credit card service charge is 4%. 20 Received payment in full from Coote Inc. on the amount due. 24 Received payment in full from Brady Co. on the amount due. (a) Your answer is correct. Journalize the July transactions and the July Bladjusting entry foragered interest receivable. (Interest is computed us hindanted them care for terme month 3.93/6 = Date Account Titles and Explanation Debit July 5 Credit Accounts Receivable 4400 Sales Revenue 4400 Cash 672 Service Charge Expense 28 Sales Revenue 700 July 20 Cash 6120 Notes Receivable 6000 Interest Revenue July 24 Cash 24 24 Cash 8540 Notes Receivable 8400 Interest Revenue 140 31 Interest Receivable 58 58 Interest Revenue e Textbook and Media List of Accounts Attempts: 1 of 5 used (b) 83F I L Enter the balances at July 1 in the receivable accounts and post the entries to all of the receivable accounts order of journal entries posted in the previous part.) Notes Receivable 7/1 Bal. 26000 720 6000 8400 7:31 Bar Accounts Receivable 4400 7:31 Bai 400 Interest Receivable 781 Type here to search O 7/31 Bal. 4400 Interest Receivable 7/31 158 7/31 Bal 58 e Textbook and Media List of Accounts Save for Later Attempts: 4 of 5 used Show the balance sheet presentation of the receivable accounts at July 31, 2022. Tul Daldlesneet presentation of the receivable accounts at July 31, 2022. Vaughn Balance Sheet (Partial) $ $ e Textbook and Media List of Accounts
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