Instructions Chart of Accounts General Journal Instructions Record The following transactions of Upton Drugs Chart of Accounts July Received a $100,000, 90-day, 8% note dated July 8 from Mrace Chemical on account Ode The note is dishonored by Miracle Chemical Nov 5 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 Required: Journalze me above transactions Refer to the Chart of Accounts for exact wording of account nties. Assume a 360- day year when calculating interat General Journal Joumakze the entries for the each transaction Refer to the Chart of Accounts for exact wording of accoune nded Assume a 360- day year when calculating interest ASSETS 110 Cash 111 Petty Cash CHART OF ACCOUNTS Upton Drugs General Ledger 121 Accounts Receivable-Babson Co 122 Accounts Receivable-Bynum C 123 Accounts Receivable Calahan inc 124 Accounts Receivable Dodger Co 125 Accounts Receivable-Fronk Co. 126 Accounts Receivable-Mrace Chemical 127 Accounts Receivable Solo Co 128 Accounts Receivable Watson Co. 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable-Made Chemical 141 Merchandise Inventory 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 Supples Expense 536 Credit Card Expense 537 Cash Short and Over JOURNAL CATE DESCRIPTION MGE 145 Supplies 151 Prepaid insurance 181 Land POST REF DEBIT CREDIT 191 Equipment 192 Accumulated Depreciation 538 Bad Debt Expence 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 come Summary