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P8-32A (similar to) Question Help Data Table Bethany Realty loaned money and received the following notes during 2018. E: (Click the icon to view the
P8-32A (similar to) Question Help Data Table Bethany Realty loaned money and received the following notes during 2018. E: (Click the icon to view the notes received.) Read the requirements Note Date Interest Rate Term Dec. 31 1,230 Interest Receivable Interest Revenue 1,230 Oct. 1 14% Principal Amount $ 18,000 20.000 (1) (2) (3) 1 year 12% Sep 30 Jun. 19 6 months 180 days 15,000 9% Now journalize the collection of principal and interest at maturity on the three notes. Explanations are n Journalize the collection of principal and interest at maturity for note (1). Print Done Date Accounts and Explanation Debit Credit 2019 Oct. 1 Cash 20,520 Requirements Interest Receivable Interest Revenue 630 1,890 Note Receivable (Note 1) 18,000 Journalize the collection of principal and interest at maturity for note (2) 1. Determine the maturity date and maturity value of each note. 2. Journalize the entries to establish each Note Receivable and to record collection of principal and interest at maturity. Include a single adjusting entry on December 31, 2018, the fiscal year-end, to record accrued interest revenue on any applicable note. Explanations are not required. Round to the nearest dollar Date Accounts and Explanation Debit Credit 2019 Mar. 30 Cash 21,200 Print Done Interest Receivable 1200 Interest Revenue Note Receivable (Note 2) 20,000
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