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Journalize the following entries on the books of Winston Co. for August 1, September 1, and November 30. (Assume a 360-day year is used for
Journalize the following entries on the books of Winston Co. for August 1, September 1, and November 30. (Assume a 360-day year is used for interest calculations.)
Aug. 1 Winston Co. purchased merchandise for $75,000 on account from Bagley Co., terms n/30. Sept. 1 Winston Co. issued a 90-day, 6% note for $75,000 on account. Nov. 30 Winston Co. paid the amount due
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