Instructions Chart of Accounts General Journal Instructions Record the following transactions of Upton Drugs: July 8 Oct. 6 Nov. 5 Required: Received a $180,000, 90-day, 8% note dated July 8 from Miracle Chemical on account. The note is dishonored by Miracle Chemical. Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to Miracle Chemical on October 6. Journalize the above transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year when calculating interest. e Chart of Accounts CHART OF ACCOUNTS Upton Drugs General Ledger ASSETS 110 Cash. 111 Petty Cash 121 Accounts Receivable-Batson Co. 122 Accounts Receivable-Bynum Co. 123 Accounts Receivable-Calahan Inc. 124 Accounts Receivable-Dodger Co. 125 Accounts Receivable-Fronk Co. 126 Accounts Receivable-Miracle Chemical 127 Accounts Receivable-Solo Co. 128 Accounts Receivable-Watson Co. 129 Allowance for Doubtful Accounts 131 Interest Receivable: 132 Notes Receivable-Miracle Chemical 141 Merchandise Inventory 145 Supplies 151 Prepaid Insurance REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 520 Salaries Expense 521 Advertising Expense 522 Depreciation Expense 523 Delivery Expense 524 Repairs Expense 531 Rent Expense 533 Insurance Expense 534 Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 141 Merchandise Inventory 145 Supplies 151 Prepaid Insurance 181 Land 191 Equipment 192 Accumulated Depreciation 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary ructions Chart of Accounts General Journal eneral Journal Journalize the entries for the each transaction. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year when calculating interest. 1 2 4 5 6 T PAGE 1 JOURNAL DATE DESCRIPTION POST. REF DEBIT CREDIT