Question
Nash Family Importers sold goods to Tung Decorators for $37,200 on November 1, 2020, accepting Tungs $37,200, 6-month, 6% note. Prepare Nashs November 1 entry,
Nash Family Importers sold goods to Tung Decorators for $37,200 on November 1, 2020, accepting Tungs $37,200, 6-month, 6% note. Prepare Nashs November 1 entry, December 31 annual adjusting entry, and May 1 entry for the collection of the note and interest. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Date | Account Titles and Explanation | Debit | Credit |
---|---|---|---|
choose a transaction date 11/1/2012/31/205/1/21 | enter an account title | enter a debit amount | enter a credit amount |
enter an account title | enter a debit amount | enter a credit amount | |
choose a transaction date 11/1/2012/31/205/1/21 | enter an account title | enter a debit amount | enter a credit amount |
enter an account title | enter a debit amount | enter a credit amount | |
choose a transaction date 11/1/2012/31/205/1/21 | enter an account title | enter a debit amount | enter a credit amount |
enter an account title | enter a debit amount | enter a credit amount | |
enter an account title | enter a debit amount | enter a credit amount | |
enter an account title | enter a debit amount |
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