On May 16, 20x1, Safeway Company received a 90-day, 8 percent. $8,400 interest-bearing note from Black Company in settlement of Black's post-duo account On June 30, Safeway discounted this note at Fargo Bank and Trust. The bank charged a discount rate of 13 percent On August 14, Safeway received a notice that Black had paid the note and the interest on the due date. Required: Prepare the entries in general Journal form to record these transactions Analyze: if the company prepared a balance sheet on July 31, 20X1. how should Notes Receivable-Discounted be presented on the statement? Complete this question by entering your answers in the tabs below. General Journal Analyze Prepare the entries in general Journal form to record these transactions. (Use 360 days a year. Round your intermediate calculations and final answers to 2 decimal places.) View transaction ist Journal entry worksheet Record entry for a 90-day, 8% note accepted for past due account Note: Enter debits before credits General Journal Analyze Prepare the entries in general journal form to record these transactions. (Use 360 days a year. Round your inte final answers to 2 decimal places.) View transaction list Journal entry worksheet Record entry for a 90-day, 8% note accepted for past-due account. Note: Enter debits before credits. General Journal Debit Credit Date May 16, 20X1 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. General Journal Analyze Prepare the entries in general journal form to record these transactions. (Use 360 days a year. Round your intermedi final answers to 2 decimal places.) View transaction list Journal entry worksheet ( 1 2 3 Record the entry for discounting the 90-day note at 13% Note: Enter debits before credits. Date June 30, 20X1 General Journal Debit Credit Record entry Clear entry View general Journal General Journal Analyze Prepare the entries in general journal form to record these transactions. (Use 360 days a year. Round your intermedi final answers to 2 decimal places.) View transaction list Journal entry worksheet Record payment of discounted note receivable. Note: Enter debits before credits Date Aug. 14, 20X1 General Journal Dobit Credit Record entry Clear entry View general Journal Un May 10, ZUAI, Saleway company received a Yu-uay, o percent, 30,400 interest-Deanng note from Black Company in Setuement or Black's past-due account. On June 30, Safeway discounted this note at Fargo Bank and Trust. The bank charged a discount rate of 13 percent. On August 14, Safeway received a notice that Black had paid the note and the interest on the due date. Required: Prepare the entries in general journal form to record these transactions Analyze: If the company prepared a balance sheet on July 31, 20x1, how should Notes Receivable-Discounted be presented on the statement? Complete this question by entering your answers in the tabs below. General Journal Analyze If the company prepared a balance sheet on July 31, 20x1, how should Notes Receivable-Discounted be presented on the statement? Safeway Company Balance Sheet (Partial) July 31, 20X1
