Please help with Jul 12
documents from iCloud. The following were selected from among the transactions completed by Caldemeyer Co. during the current year. Caldemeyer sells and installs home and business security systems. Jan. Loaned $18,000 cash to Trina Gelhaus, receiving a 90-day, 8% note. 3 Feb. Sold merchandise on account to Bradford & Co., $24,000. The cost of the 10 13 goods sold was $14,400. Sold merchandise on account to Dry Creek Co., $60,000. The cost of goods sold was $54,000. Accepted a 60-day, 7% note for $24,000 from Bradford & Co. on account. Mar. 12 14 Apr. Accepted a 60-day, 9% note for $60,000 from Dry Creek Co. on account. Received the interest due from Trina Gelhaus and a new 120-day, 9% note as a renewal of the loan of January 3. (Record both the debit and the credit 3 to the notes receivable account.) Received from Bradford & Co. the amount due on the note of March 12. May 11 13 Dry Creek Co. dishonored its note dated March 14. Received from Dry Creek Co. the amount owed on the dishonored note, July 12 Aug plus interest for 60 days at 12% computed on the maturity value of the note. Received from Trina Gelhaus the amount due on her note of April 3. .1 Oct. 5 Sold merchandise on account, terms 2/10, n/30, to Halloran Co., $13,500. Record the sale net of the 2% discount. The cost of goods sold was $8,100. Received from Halloran Co. the amount of the invoice of October 5, less 15 2% discount. Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year. Assume this is a year in which February has 28 days. Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year. Assume this is a year in which February has 28 days. How does grading work? PAGE 10 JOURNAL Score: 444/448 ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Jan. 3 Notes Receivable 18,000.00 1 2 Cash 18,000.00 + 3 Feb. 10 Accounts Receivable-Bradford & Co. 24,000.00 1 > 4 Sales 24,000.00 1 5 Feb. 10 Cost of Goods Sold 14,400.00 6 Inventory 14,400.00 + 7 Feb. 13 Accounts Receivable-Dry Creek Co. 60,000.00 1 8 Sales 60,000.00 1 9 Feb. 13 Cost of Goods Sold 54,000.00 + 10 Inventory 54,000.00 + 9 Feb. 13 Cost of Goods Sold 54,000.00 + 10 Inventory 54,000.00 11 Mar. 12 Notes Receivable 24,000.00 12 Accounts Receivable-Bradford & Co. 24,000.00 13 Mar. 14 Notes Receivable 60,000.00 1 14 Accounts Receivable-Dry Creek Co. 60,000.00 + 15 Apr. 3 Cash 360.00 1 1 16 Notes Receivable 18,000.00 1 17 Notes Receivable 18,000.00 1 18 Interest Revenue 360.00 1 19 May 11 Cash 24,280.00 20 Notes Receivable 24,000.00 21 Interest Revenue 280.00 1 22 May 13 Accounts Receivable-Dry Creek Co. 60,900.00 1 23 Notes Receivable 60,000.00 24 Interest Revenue 900.00 1 25 Jul. 12 Cash 62,113.00 1 24 Interest Revenue 900.00 1 25 Jul. 12 Cash 62,113.00 1 26 Accounts Receivable-Dry Creek Co. 60,900.00 1 27 Interest Revenue 1,213.00 1 28 Aug. 1 Cash 18,540.00 1 29 Notes Receivable 18,000.00 1 30 Interest Revenue 540.00 1 31 Oct. 5 Accounts Receivable-Halloran Co. 13,230.00 1 32 Sales 13,230.00 1 33 Oct. 5 Cost of Goods Sold 8,100.00 34 Inventory 8,100.00 + 35 Oct. 15 Cash 13,230.00 1 36 Accounts Receivable-Halloran Co. 13,230.00 + Points: 86.22 / 87
