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Notes Receivable Entries The following data relate to notes receivable and interest for Owens Co., a financial services company. (All notes are dated as of
Notes Receivable Entries The following data relate to notes receivable and interest for Owens Co., a financial services company. (All notes are dated as of the day they are received.) Assume 360 days in a year. Mar. 8. Received a $78,000, 8%, 60-day note on account. 31. Received a $15,600, 9%, 90-day note on account. May 7. Received $79,040 on note of March 8. 16. Received a $63,600, 12%, 90-day note on account. June 11. Received a $24,000, 6%, 30-day note on account. 29. Received $15,951 on note of March 31. July 26. Received $24,120 on note of June 11. Aug. 4. Received a $3,600, 11%, 30-day note on account. 14. Received $65,508 on note of May 16. Dec. 2. Received $3,633 on note of August 4. Required: Journalize the entries to record the transactions. For a compound transactions, if an amount box does not require an entry, leave it blank. Mar. 8 Mar. 31 0 0 10 I II May 7 May 16 June 11 June 29 0 111 11 l I n11 111 July 26 Aug. 4 Aug. 14 n11 Il Dec. 2
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