Lets see those Accounting Skills Guys!

Problem 9-06A a-c Nash Company closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $22,000. Notes Receivable include the following. Date Maker Face Value Term Maturity Date Interest Rate April 21 Coote Inc. $4,000 90 days July 20 6% May 25 Brady Co. 5,400 60 days July 24 8% June 30 BMG Corp. 12,600 6 months December 31 4% During July, the following transactions were completed. July 5 Made sales of $4,000 on Nash credit cards. 14 Made sales of $500 on Visa credit cards. The credit card service charge is 2%. 20 Received payment in full from Coote Inc. on the amount due. 24 Received payment in full from Brady Co. on the amount due.Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360 days; omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round intermediate calculations to 2 decimal places, e.g. 225.25.) Date Account Titles and Explanation Debit CreditEnter the balances at July 1 in the receivable accounts and post the entries to all of the receivable accounts. (Post entries in the order afjoumal entries posted in the previous part.) Notes Receivable . . v v . . v . Accounts Receivable . . v . Interest Receivable 3 : Show the balance sheet presentation of the receivable accounts at July 31. Nash Balance Sheet (Partial)