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Notes Receivable Entries J. K. Pratt Co. had the following transactions: 20-1 July 20 Received a $800, 30-day, 5% note from J. Akita in payment
Notes Receivable Entries
J. K. Pratt Co. had the following transactions:
20-1 | |
July 20 | Received a $800, 30-day, 5% note from J. Akita in payment for sale of merchandise. |
Aug. 19 | J. Akita paid note issued July 20 plus interest. |
25 | Sold merchandise on account to L. Beene, $1,000. |
Sept. 5 | L. Beene paid $100 and gave a $900, 30-day, 6% note to extend time for payment. |
Oct. 5 | L. Beene paid note issued September 5, plus interest. |
10 | Sold merchandise to R. Harris for $640: $40 plus a $600, 30-day, 6% note. |
Nov. 9 | R. Harris paid $120 plus interest on note issued October 10 and extended the note ($480) for 30 days. |
Dec. 9 | R. Harris paid note extended on November 9, plus interest. |
10 | Sold merchandise on account to B. Kraus, $1,400. |
15 | B. Kraus paid $140 on merchandise purchased on account, and gave a $1,260, 30-day, 7% note to extend time for payment. |
20-2 | |
Jan. 14 | B. Kraus's note of December 15 is dishonored. |
Feb. 13 | Collected B. Kraus's dishonored note, plus interest at 7% on the maturity value. |
Required:
Record the transactions in a general journal. Assume 360 days in a year.
DATE | ACCOUNT TITLE | DOC. NO. | POST. REF. | DEBIT | CREDIT | ||
---|---|---|---|---|---|---|---|
1 | 20-1 July 20 | fill in the blank 2 | fill in the blank 3 | 1 | |||
2 | fill in the blank 5 | fill in the blank 6 | 2 | ||||
3 | 3 | ||||||
4 | Aug. 19 | fill in the blank 8 | fill in the blank 9 | 4 | |||
5 | fill in the blank 11 | fill in the blank 12 | 5 | ||||
6 | fill in the blank 14 | fill in the blank 15 | 6 | ||||
7 | 7 | ||||||
8 | 25 | fill in the blank 17 | fill in the blank 18 | 8 | |||
9 | fill in the blank 20 | fill in the blank 21 | 9 | ||||
10 | 10 | ||||||
11 | Sept. 5 | fill in the blank 23 | fill in the blank 24 | 11 | |||
12 | fill in the blank 26 | fill in the blank 27 | 12 | ||||
13 | fill in the blank 29 | fill in the blank 30 | 13 | ||||
14 | 14 | ||||||
15 | Oct. 5 | fill in the blank 32 | fill in the blank 33 | 15 | |||
16 | fill in the blank 35 | fill in the blank 36 | 16 | ||||
17 | fill in the blank 38 | fill in the blank 39 | 17 | ||||
18 | 18 | ||||||
19 | 10 | fill in the blank 41 | fill in the blank 42 | 19 | |||
20 | fill in the blank 44 | fill in the blank 45 | 20 | ||||
21 | fill in the blank 47 | fill in the blank 48 | 21 | ||||
22 | 22 | ||||||
23 | Nov. 9 | fill in the blank 50 | fill in the blank 51 | 23 | |||
24 | fill in the blank 53 | fill in the blank 54 | 24 | ||||
25 | fill in the blank 56 | fill in the blank 57 | 25 | ||||
26 | fill in the blank 59 | fill in the blank 60 | 26 | ||||
27 | 27 | ||||||
28 | Dec. 9 | fill in the blank 62 | fill in the blank 63 | 28 | |||
29 | fill in the blank 65 | fill in the blank 66 | 29 | ||||
30 | fill in the blank 68 | fill in the blank 69 | 30 | ||||
31 | 31 | ||||||
32 | 10 | fill in the blank 71 | fill in the blank 72 | 32 | |||
33 | fill in the blank 74 | fill in the blank 75 | 33 | ||||
34 | 34 | ||||||
35 | 15 | fill in the blank 77 | fill in the blank 78 | 35 | |||
36 | fill in the blank 80 | fill in the blank 81 | 36 | ||||
37 | fill in the blank 83 | fill in the blank 84 | 37 | ||||
38 | 38 | ||||||
39 | 20-2 Jan. 14 | fill in the blank 86 | fill in the blank 87 | 39 | |||
40 | fill in the blank 89 | fill in the blank 90 | 40 | ||||
41 | fill in the blank 92 | fill in the blank 93 | 41 | ||||
42 | 42 | ||||||
43 | Feb. 13 | fill in the blank 95 | fill in the blank 96 | 43 | |||
44 | fill in the blank 98 | fill in the blank 99 | 44 | ||||
45 | fill in the blank 101 | fill in the blank 102 | 45 |
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