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Journal entry worksheet Coolidge Company owes $1,000 for merchandise inventory purchased from Ross Company during April. The amount owed is now past-due. On June 15,

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Journal entry worksheet Coolidge Company owes $1,000 for merchandise inventory purchased from Ross Company during April. The amount owed is now past-due. On June 15, Coolidge meets with Ross and convinces Ross to accept $400 cash and a 30- day, 10 percent, $600 note payable to replace the account payable. Note: Enter debits before credits. Date Jun 15 General Journal Debit / Credit

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