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Notes Receivables - 20 minutes - 9 marks The following series of transactions occurred during 2020 and 2021 for Lannister Corporation following the sale of

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Notes Receivables - 20 minutes - 9 marks The following series of transactions occurred during 2020 and 2021 for Lannister Corporation following the sale of merchandise to Golden Company Limited for $75,000 on credit Lannister Corporation's fiscal year end is December 31. Assume 28 days in the month of February 01-Oct-20 Golden Company Limited indicated they won't be able to pay the full balance of the account until early next year. They agree to pay $10,000 cash and convert the balance of the amount owed to a 5-month, 8% note receivable. 31-Dec-20 Prepare the year-end interest adjustment for the note receivable. 28-Feb-21 Golden Company Limited honours their note at maturity. Required: 1. Prepare the journal entries for the transactions for the transactions listed above. Round to 2 decimal places. Narratives are not required. Space has been provided to show interest calculations 1. Prepare the journal entries for the transactions for the transactions listed above. Round to 2 decimal places. Narratives are not required. Space has been provided to show interest calculations. 1 A T: Ft B I U S X2 x2 III Oy 6 D 5 E E > General Journal Date Account Titles and Explanation Debit Credit

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