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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 $78,000,7%, 60-day note on account. 31. Received a $22,800, 10%, 90-day note on account. May 7. Received $78,910 on note of March 8. 16. Received a $68,400, 99, 90-day note on account. June 11. Received a $42,000, 12%, 30-day note on account. Received $23,370 on note of March 31. Received $42,420 on note of June 11. 29. July 26. Aug. 4. 14. Received a $2,400, 8%, 30-day note on account. Received $69,939 on note of May 16. Dec. 2. Received $2,416 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
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