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pls help Entries for Notes Receivable, including Year End Entries The following selected transactions were completed by Interlocking Devices Co., a supplier of tippers for
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Entries for Notes Receivable, including Year End Entries The following selected transactions were completed by Interlocking Devices Co., a supplier of tippers for clothing 2017 Dec. 2 Dec. 31 Received from Unitarian Clothing and Bags Co, on account, a $96,000, 60-day, 10% note dated December 7 Recorded an adjusting entry for accrued interest on the note of December 7. Recorded the closing entry for interest revenue Dec 31 2018 Feb. 5. Recelved payment of note and interest from Unitarian Clothing & Bags Co. Journalize the entries to record the transactions. Assume 360 days in a year. It an amount box does not require an entry, leave it blank. Assume February has 2 days in 2018 It required, round the interest to the nearest cent. 2017 Dec Accounts Receivable-Unitarian Clothing and Bags Co. Allowance for Doubtful Accounts Dec. 31 Bad Debt Expense Cash Interest Receivable Notes Receivable Dec 31 2018, Feb. 5 2017 Dec. 2 Dec. 31 Dec 31 Received from Unitarian Clothing and Bags Co, on account, a 596,000, 60-day, 10 note dated December 7 Recorded an adjusting entry for accrued interest on the note of December 7 Recorded the closing entry for interest revenue 2048 Feb. 5. Received payment of note and interest from Unitarian Clothing & Bags Co. Journalize the entries to record the transactions. Assume 360 days in a year. It an amount box does not require an entry, leave it blank Assume Februarytus 28 days in 2018 If required, round the interest to the nearest cent. 2017. Dec. 7 Dec. 31 Dec 31 Cash Interest Expense Interest Receivable Interest Revenue Notes Receivable Unearned interest W I II II 2018, Feb. 5 Step by Step Solution
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