Instructions Cosimo Enterprises issues a $260,000, 45-day, 5% note to Dixon Industries for merchandise inventory. Required: A. Journalize Cosimo Enterprises' entries to record (refer to the company's Chart of Accounts for exact wording of account titles): 1. the issuance of the note on January 1 2. the payment of the note af maturity. Assume a 360-day year B. Journalize Dixon Industries' entries to record (refer to the company's Chart of Accounts for exact wording of account titles): 1. he receipt of the note on January 1. 2. the receipt of the payment of the note at maturity. Assume a 360-day year. CHART OF ACCOU! Cosimo Enterpris General Ledger ASSETS 110 Cash 6 111 Accounts Receivable 112 Interest Receivable 113 Notes Receivable 5 115 Merchandise Inventory 116 Supplies 118 Prepaid Insurance 120 Land 123 Building 124 Accumulated Depreciation-Building 125 Office Equipment 126 Accumulated Depreciation Office Equipment REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 520 Salaries Expense 524 Depreciation Expense-Building 525 Delivery Expense 526 Repairs Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Supplies Expense 535 Payroll Tax Expense 536 Vacation Pay Expense 537 Pension Expense 538 Cash Short and Over 539 Product Warranty Expense 540 Damage Awards and Fines 541 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 213 Interest Payable 214 Notes Payable 215 Salaries Payable 216 Social Security Tax Payable 217 Medicare Tax Payable 218 Employees Federal Income Tax Payable 219 Employees State Income Tax Payable 221 Retirement Savings Deductions Payable 224 Federal Unemployment Tax Payable 225 State Unemployment Tax Payable 226 Vacation Pay Payable 227 Unfunded Pension Liability 228 Product Warranty Payable 229 EPA Fines Payable 230 Litigation Claims Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary Journal-Cosimo Enterprises A Journalze Cosimo Enterprises entries to record (refer to the company's Chart of Accounts for exact wording of account titles): 1. the issuance of the note on January 1. 2. the payment of the note at matunty on February 15. Assume a 360-day year. PAGE 1 ACCOUNTING EQUATION JOURNAL ASSETS EQUITY CREDIT LIABILITIES POSTRES DEBIT DESCRIPTION DATE 1 2 3 4 5 Journal Dixon Industries B. Journale Dixon Industries entries to record (refer to the company's Chart of Accounts for exact wording of account ttles) 1. the receipt of the note on January 1 2. the recolor of the payment of the note at maturity on February 15. Assume a 360-day your NGER JOURNAL ACCOUNTING EQUATION CREDIT POSTRE DATE DENT DESCRIPTION LIABILITIES EQUITY ASSETS