Journalize

Instructions On January 1 of 2042, Hebron Company issued a $231.000, five-year, 9% Installment note to Ventsam Bank. The note requires annual payments of $59,388 beginning on December 31 of 2072. Journalize the entries to record the following transactions Refer to the Chart of Accounts for exact wording of account toes 2012 Jan 1 Issued the note for cash at its tace amount 31 Paid the annual payment on the note which consisted of interest of 520 700 and principal of 538,500 Dec 2015 Dec 31 Paid the annual payment on the note which included 59.402 of interest. The remainder of the payment reduced the principal balance on the note O i 9F 69% L M a 3 Chart of Accounts General Ledger REVENUE 410 Sales 610 Interest Revenue 611 Gan on Redemption of Bonds ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable 122 Allowance for Doubtful Accounts 126 Interest Receivable 127 Notes Receivable 131 Inventory 141 Office Supplies 142 Store Supplies 151 Prepaid Insurance 191 Land 192 Store Equipment 193 Accumulated Depreciation Store Equipment EXPENSES 510 Cost of Goods Sold 515 Credit Card Expense 516 Cash Short and Over 521 Sales Sataries Expense 522 Office Sataries Expense 531 Advertising Expense 532 Delivery Expense 533 Repairs Expense D 133 AM Chart of Accounts 193 Accumulated Depreciation Store Equipment 194 Office Equipment 195 Accumulated Depreciation Office Equipment LIABILITIES 210 Accounts Payable 221 Salaries Payable 231 Sales Tax Payable 232 Interest Payable 241 Notes Payable 251 Bonds Payable 252 Discount on Bonds Payable 253 Premium on Bonds Payable 533 Repairs Expense 534 Selling Expenses 535 Rent Expense 536 Insurance Expense 537 Office Supplies Expense 538 Store Supplies Expense 541 Bad Debt Expense 561 Depreciation Expense-Store Equipment 562 Depreciation Expense-Office Equipment 590 Miscellaneous Expense 710 Interest Expense 711 Loss on Redemption of Bonds