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Please help me with the interest part. Also if you could explain the math you did I'd appreciate it greatly! Question 6 of 10 0.23/1
Please help me with the interest part. Also if you could explain the math you did I'd appreciate it greatly!
Question 6 of 10 0.23/1 E View Policies Show Attempt History Current Attempt in Progress Wildhorse Supply Co. has the following transactions related to notes receivable during the last 2 months of 2022 Nov. 1 Loaned $ 21,000 cash to Soozie Takham on a 1-year, 10% note. Dec. 11 Sold goods to Joe Trater, Inc., receiving a $ 10.125, 90-day, 8% note. Dec. 16 Received a $ 6.720.6-month, 9% note in exchange for Boba Fett's outstanding accounts receivable. Dec. 31 Accrued interest revenue on all notes receivable. (a) Your answer is partially correct. Journalize the above transactions for Wildhorse Supply Co. (Round interest revenue to decimal place, eg. 591. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account tities and enter for the amounts. Use 360 days for calculation.) Date Account Titles and Explanation Debit Credit 122 Nov. 1 Notes Receivable 21000 Cash 21000 Dec 11 Notes Receivable 10125 Sales Revenue 10125 Dec 16 Notes Receivable 6720 Accounts Receivable 6720 Dec 31 Interest Receivable Interest Revenue e Textbook and Media List of Accounts Save for later Attempts: unlimited Submit
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