Question
Journalize the following entries in the Winston Co. books for August 1, September 1, and November 30. (Assume a 360-day year is used for interest
Journalize the following entries in the Winston Co. books for August 1, September 1, and November 30. (Assume a 360-day year is used for interest calculations.)
| August 1 | Winston Co. purchased merchandise for $75,000 on account of Bagley Co., terms n/30. |
| September 1st | Winston Co. issued a 90-day 6% note for $75,000 on account. |
| November 30 | Winston Co. paid the amount due. |
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Accounting Principles
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
7th Canadian Edition Volume 1
1119048508, 978-1119048503
