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Joumalize all transactions for Rural Beginnings. Round all amounts to the nearest dollar. (For notes stated in days, use a 365-day year. Round your final
Joumalize all transactions for Rural Beginnings. Round all amounts to the nearest dollar. (For notes stated in days, use a 365-day year. Round your final answers to the nearest whole dollar. Record debits first, then credits. Exclude explanations from journal entries.) More Info 1 2018 Dec. 6 Received a $4,000, 90-day, 9% note in settlement of an overdue accounts receivable from Concord Sounds. Made an adjusting entry to accrue interest on the Concord Sounds note. Made a closing entry for interest revenue. 31 31 2019 Mar. 6 Jun, 30 Oct. 2 Collected the maturity value of the Concord Sounds note. Loaned $14,000 cash to Providence Music, receiving a six-month, 14% note. Received a $1,000, 60-day, 14% note for a sale to Salem Sounds. Ignore Cost of Goods Sold. Salem Sounds dishonored its note at maturity. Wrote off the receivable associated with Salem Sounds. (Use the allowance method.) Collected the maturity value of the Providence Music note. Dec. 1 1 30 Dec. 6: Received a $4,000, 90-day, 9% note in settlement of an overdue accounts receivable from Concord Sounds. Date 2018 Dec. 6 Debit Credit Accounts Dec. 31: Made an adjusting entry to accrue interest on the Concord Sounds note. Debit Date 2018 Dec. 31 Accounts Credit Dec. 31: Made a closing entry for interest revenue. Date 2018 Dec. 31 Accounts Debit Credit Mar. 6: Collected the maturity value of the Concord Sounds note. (Prepare a single compound journal entry.) Date 2019 Mar. 6 Accounts Debit Credit Jun, 30: Loaned $14,000 cash to Providence Music, receiving a six-month, 14% note. Date 2019 Jun. 30 Accounts Debit Credit Oct. 2: Received a $1,000, 60-day, 14% note for a sale to Salem Sounds. Ignore Cost of Goods Sold. Date 2019 Oct. 2 Accounts Debit Credit Dec. 1: Salem Sounds dishonored its note at maturity. (Prepare a single compound journal entry.) Credit Date 2019 Dec. 1 Accounts Debit Dec. 1: Wrote off the receivable associated with Salem Sounds. (Use the allowance method.) Credit Date 2019 Dec. 1 Accounts Debit Dec. 30: Collected the maturity value of the Providence Music note. (Prepare a single compound journal entry.) Debit Date 2019 Dec. 30 Accounts Credit
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