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 $96,000, 6 , 60 day note on account 31 Received a $13,200, 7 , 90 day note on account May 7 Received $96,960 on note of March 8 16 Received a $70,800, 8 , 90 day note on account June 11 Received a $42,000, 9 , 30 day note on account 29 Received $13,431 on note of March 31 July 26 Received $42,315 on note of June 11 Aug 4 Received a $9,600, 10 , 30 day note on account 14 Received $72,216 on note of May 16 Dec 2 Received $9,680 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 Accounts PayableAccounts ReceivableCashInterest ReceivableNotes PayableNotes ReceivableNotes Receivable Notes Receivable Accounts PayableAccounts ReceivableCashInterest ReceivableNotes PayableNotes ReceivableAccounts Receivable Accounts Receivable Mar 31 Accounts PayableAccounts ReceivableCashInterest ReceivableNotes PayableNotes ReceivableNotes Receivable Notes Receivable Accounts PayableAccounts ReceivableCashInterest ReceivableNotes PayableNotes ReceivableAccounts Receivable Accounts Receivable May 7 Accounts PayableAccounts ReceivableCashInterest ReceivableInterest RevenueNotes ReceivableCash Cash Cash Accounts PayableAccounts ReceivableCashInterest PayableInterest ReceivableNotes ReceivableNotes Receivable Notes Receivable Notes Receivable Accounts PayableAccounts ReceivableCashInterest PayableInterest ReceivableInterest RevenueInterest Receivable Interest Receivable Interest Receivable May 16 Accounts ReceivableBad Debt ExpenseCashInterest RevenueNotes PayableNotes ReceivableNotes Receivable Notes Receivable Accounts PayableAccounts ReceivableBad Debt ExpenseCashInterest RevenueNotes ReceivableAccounts Receivable Accounts Receivable June 11 Accounts ReceivableBad Debt ExpenseCashInterest RevenueNotes PayableNotes ReceivableNotes Receivable Notes Receivable Accounts ReceivableBad Debt ExpenseCashInterest RevenueNotes PayableNotes ReceivableAccounts Receivable Accounts Receivable June 29 Accounts PayableAccounts ReceivableCashInterest ExpenseInterest RevenueNotes ReceivableCash Cash Cash Accounts ReceivableCashInterest ReceivableNotes PayableNotes ReceivableUnearned InterestNotes Receivable Notes Receivable Notes Receivable Accounts ReceivableAllowance for Doubtful AccountsCashInterest ExpenseInterest ReceivableInterest RevenueInterest Revenue Interest Revenue Interest Revenue July 26 Accounts ReceivableBad Debt ExpenseCashInterest ReceivableInterest RevenueNotes ReceivableCash Cash Cash Accounts PayableAccounts ReceivableCashInterest ReceivableNotes PayableNotes ReceivableNotes Receivable Notes Receivable Notes Receivable Accounts PayableAccounts ReceivableCashInterest ReceivableInterest RevenueUnearned InterestInterest Revenue Interest Revenue Interest Revenue Aug 4 Accounts ReceivableBad Debt ExpenseCashNotes PayableNotes ReceivableSalesNotes Receivable Notes Receivable Accounts PayableAccounts ReceivableCashInterest RevenueNotes ReceivableSalesAccounts Receivable Accounts Receivable Aug 14 Accounts PayableAccounts ReceivableCashInterest PayableInterest ReceivableNotes ReceivableCash Cash Cash Accounts ReceivableAllowance for Doubtful AccountsCashInterest ReceivableNotes PayableNotes ReceivableNotes Receivable Notes Receivable Notes Receivable Accounts PayableAccounts ReceivableCashInterest PayableInterest ReceivableInterest RevenueInterest Receivable Interest Receivable Interest Receivable Dec 2 Accounts PayableAccounts ReceivableBad Debt ExpenseCashInterest RevenueNotes ReceivableCash Cash Cash Accounts ReceivableAllowance for Doubtful AccountsCashInterest ReceivableNotes PayableNotes ReceivableNotes Receivable Notes Receivable Notes Receivable Accounts PayableAccounts ReceivableCashInterest PayableInterest ReceivableInterest RevenueInterest Receivable Interest Receivable Interest Receivable

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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 $96,000, 6%, 60-day note on account.
31.		Received a $13,200, 7%, 90-day note on account.
May 7.		Received $96,960 on note of March 8.
16.		Received a $70,800, 8%, 90-day note on account.
June 11.		Received a $42,000, 9%, 30-day note on account.
29.		Received $13,431 on note of March 31.
July 26.		Received $42,315 on note of June 11.
Aug. 4.		Received a $9,600, 10%, 30-day note on account.
14.		Received $72,216 on note of May 16.
Dec. 2.		Received $9,680 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	Accounts PayableAccounts ReceivableCashInterest ReceivableNotes PayableNotes ReceivableNotes Receivable	Notes Receivable
	Accounts PayableAccounts ReceivableCashInterest ReceivableNotes PayableNotes ReceivableAccounts Receivable		Accounts Receivable
Mar. 31	Accounts PayableAccounts ReceivableCashInterest ReceivableNotes PayableNotes ReceivableNotes Receivable	Notes Receivable
	Accounts PayableAccounts ReceivableCashInterest ReceivableNotes PayableNotes ReceivableAccounts Receivable		Accounts Receivable
May 7	Accounts PayableAccounts ReceivableCashInterest ReceivableInterest RevenueNotes ReceivableCash	Cash	Cash
	Accounts PayableAccounts ReceivableCashInterest PayableInterest ReceivableNotes ReceivableNotes Receivable	Notes Receivable	Notes Receivable
	Accounts PayableAccounts ReceivableCashInterest PayableInterest ReceivableInterest RevenueInterest Receivable	Interest Receivable	Interest Receivable
May 16	Accounts ReceivableBad Debt ExpenseCashInterest RevenueNotes PayableNotes ReceivableNotes Receivable	Notes Receivable
	Accounts PayableAccounts ReceivableBad Debt ExpenseCashInterest RevenueNotes ReceivableAccounts Receivable		Accounts Receivable
June 11	Accounts ReceivableBad Debt ExpenseCashInterest RevenueNotes PayableNotes ReceivableNotes Receivable	Notes Receivable
	Accounts ReceivableBad Debt ExpenseCashInterest RevenueNotes PayableNotes ReceivableAccounts Receivable		Accounts Receivable
June 29	Accounts PayableAccounts ReceivableCashInterest ExpenseInterest RevenueNotes ReceivableCash	Cash	Cash
	Accounts ReceivableCashInterest ReceivableNotes PayableNotes ReceivableUnearned InterestNotes Receivable	Notes Receivable	Notes Receivable
	Accounts ReceivableAllowance for Doubtful AccountsCashInterest ExpenseInterest ReceivableInterest RevenueInterest Revenue	Interest Revenue	Interest Revenue
July 26	Accounts ReceivableBad Debt ExpenseCashInterest ReceivableInterest RevenueNotes ReceivableCash	Cash	Cash
	Accounts PayableAccounts ReceivableCashInterest ReceivableNotes PayableNotes ReceivableNotes Receivable	Notes Receivable	Notes Receivable
	Accounts PayableAccounts ReceivableCashInterest ReceivableInterest RevenueUnearned InterestInterest Revenue	Interest Revenue	Interest Revenue
Aug. 4	Accounts ReceivableBad Debt ExpenseCashNotes PayableNotes ReceivableSalesNotes Receivable	Notes Receivable
	Accounts PayableAccounts ReceivableCashInterest RevenueNotes ReceivableSalesAccounts Receivable		Accounts Receivable
Aug. 14	Accounts PayableAccounts ReceivableCashInterest PayableInterest ReceivableNotes ReceivableCash	Cash	Cash
	Accounts ReceivableAllowance for Doubtful AccountsCashInterest ReceivableNotes PayableNotes ReceivableNotes Receivable	Notes Receivable	Notes Receivable
	Accounts PayableAccounts ReceivableCashInterest PayableInterest ReceivableInterest RevenueInterest Receivable	Interest Receivable	Interest Receivable
Dec. 2	Accounts PayableAccounts ReceivableBad Debt ExpenseCashInterest RevenueNotes ReceivableCash	Cash	Cash
	Accounts ReceivableAllowance for Doubtful AccountsCashInterest ReceivableNotes PayableNotes ReceivableNotes Receivable	Notes Receivable	Notes Receivable
	Accounts PayableAccounts ReceivableCashInterest PayableInterest ReceivableInterest RevenueInterest Receivable	Interest Receivable	Interest Receivable