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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. 31. May 7. 16. June 11. 29. July 26. Aug. 4. Received a $66,000, 9%, 60-day note on account. Received a $12,000, 8%, 90-day note on account. Received 566,990 on note of March 8. Received a $67,200, 7%, 90-day note on account. Received a $18,000, 6%, 30-day note on account. Received $12,240 on note of March 31. Received $18,090 on note of June 11. Received a $3,600, 12%, 30-day note on account. Received 568,376 on note of May 16. Received $3,636.pn note of August 4. Dec. 2. 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. B Notes Receivable 66,000 Accounts Receivable 66,000 Mar. 31 Notes Receivable 12,000 Accounts Receivable 12.000 May 7 Cash 66,990 Check My Work 3 more Check My Work uses remaining Chapter 9 HW eBook Calculator May 7 Cash 66,990 Notes Receivable 66,000 Interest Revenue May 16 Notes Receivable 67,200 Accounts Receivable 66,000 June 11 Notes Receivable 18,000 Accounts Receivable 66,000 June 29 Cash 12,240 Notes Receivable 66,000 Interest Revenue July 26 Cash 18,090 Accounts Receivable 66,000 Interest Revenue Aug. 4 Notes Receivable 3,600 Accounts Receivable 66,000 Aug. 14 Cash 68,376 Notes Receivable 66,000 Check My Work 3 more Check My Work uses remaining Chapter 9 HW eBook Calculator June 11 Notes Receivable 18,000 Accounts Receivable 66,000 June 29 Cash 12.240 Notes Receivable 66,000 Interest Revenue July 26 Cash 18,090 Accounts Receivable 66,000 Interest Revenue > Aug. 4 3,600 Notes Receivable Accounts Receivable 66,000 Aug. 14 Cash 68,376 Notes Receivable 66,000 Interest Revenue Dec. 2 Cash 3,636 Notes Receivable 66,000 Interest Revenue Check My Work 3 more Check My Work uses remaining
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