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PLEASE HELP ME OUT !!!! Record the following transactions in the journal of Bird's Eye Music, Inc Explanations are not required Use a 360-day year
PLEASE HELP ME OUT !!!!
Record the following transactions in the journal of Bird's Eye Music, Inc Explanations are not required Use a 360-day year for interest computations and round to the nearest dollar (Click the icon to view the transactions) (Record debits first then credits Exclude explanations from any journal entries ) More info 2017 Dec 11 Received a $4,500, 90-day 8% note on account from Concord Sounds 31 Made an adjusting entry to accrte interest on Concord Sounds note 2018 Mar Jun Oct 10 Collected the maturity value of Concord Sounds note 1 Loaned $6,000 cash to London Sounds receiving a six-month 7% note 31 Received a $1,500, 90-day 11% note from Utica Music on its past due account receivable 1 Collected the maturity value of the London Sounds note, 31 Make an adjusting entry to accrue interest on the Ulica Music note Dec Dec Dec 11 Received a $4,500 90-day, 8% note on account from Concord Sounds Journal Entry Date Accounts Debit Credit Dec 11, 2017 Dec 31 Made an adjusting entry to accrue interest on Concord Sounds note (Use a 360-day year for your calculation Enter amounts to the nearest dollar) Journal Entry Accounts Debit Credit Date Dec 31, 2017 Mar 10 Collected the maturity value of Concord Sounds note (Enter amounts to the nearest dollar) Journal Entry Date Accounts Debit Credit Mar 10, 2018 Jun 1 Loaned $6,000 cash to London Sounds, receiving a six-month, 7% note Journal Entry Date Accounts Debit Credit Jun 1. 2018 Oct 31 Received a $1,500, 90-day, 11% note from Utica Music on its past-due account receivable Journal Entry Accounts Date Debit Credit Oct 31, 2018 Dec 1. Collected the maturity value of the London Sounds note Journal Entry Date Accounts Debit Credit Dec 1, 2018 Dec 31 Make an adjusting entry to accrue interest on the Ulica Music note. (Use a 360 day year for your calculation Enter amounts to the nearest dollar) Journal Entry Date Accounts Debit Credit Dec 31, 2018 Step by Step Solution
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