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I need help with these journal entries Samberg Incorporated had the following transactions a. October 1 - Sold $11,500 of merchandise on account, 2/11, n/30
I need help with these journal entries
Samberg Incorporated had the following transactions a. October 1 - Sold $11,500 of merchandise on account, 2/11, n/30 to McCormick Industries. b. November 1 - Received a $11,500,90-day, 11% note from McCormick Industries to settle its $11,500 unpaid balance. c. December 31-Accrued interest on the note. (Round your answer to the nearest whole dollar amount.) d. January 31 - Received the interest on the note's maturity date. e. January 31 - Recelved the principal on the note's maturity date. (Round your answer to the nearest whole dollar amount.) Required: Prepare the required journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the entry for interest accrued on promissory note received from McCormick Industries. Note: Enter debits before credits. Journal entry worksheet A Record the entry for interest received, from McCormick Industries, on the note's maturity date. Note: Enter debits before credits Step by Step Solution
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