PR 9-6A Sales and notes receivable transactions

10. 22. Received a $150,000, 4%, 45-day note on account. Sept. 12. Received $276,300 on note of May 15. 30. Received a $210,000, 8 % , 60-day note on account. Oct. 6. Received $150,750 on note of August 22. 18. Received a 120,000, 5 %, 60-day note on account. Nov. 29. Received $212,800 on note of September 30. Dec. 17. Received $121,000 on note of October 18. Instructions Journalize the entries to record the transactions. OBJ. 6 Sales and notes receivable transactions PR 9-6A The following were selected from among the transactions completed by Caldemeyer Co. dur- ing the current year. Caldemeyer Co. sells and installs home and business security systems. 3. Loaned $18,000 cash to Trina Gelhaus, receiving a 90-day, 8 % note . Jan. Feb. 10. Sold merchandise on account to Bradford & Co., $24,000. The cost of the mer- 13. Sold merchandise on account to Dry Creek Co., $60,000. The cost of merchan- dise sold was $54,000. chandise sold was $14,400. Chapter 9 Receivables 479 Mar. 12. Accepted a 60-day, 7% note for $24,000 from Bradford & Co. on account. 14. Accepted a 60-day, 9% note for $60,000 from Dry Creek Co. on account. 3. 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 to the notes receivable account.) Apr. 16 May 11. Received from Bradford & Co. the amount due on the note of March 12. 13. Dry Creek Co. dishonored its note dated March 14. 0July 12. Received from Dry Creek Co. the amount owed on the dishonored note, plus at 12% computed interest for 60 days on the maturity value of the note. Aug. 1. Received from Trina Gelhaus the amount due on her note of April 3. 5. Sold merchandise on account to Halloran Co., $13,500. The cost of the merchandise sold was Oct. $8,100. 15. Received from Halloran Co. the amount of the invoice of October 5. Instructions Journalize the entries to record the transactions