prepare taccounts for interest recievable notes recievable allowance for doubtful nites accounts with opening balances and determine the ending balance and prepare statement of financial position partial.

prepare statement of financial statements too

record the october journal transactions. when interset recievable is $604 and notes recievable is $59800. Handley Corporation adjusts its books monthly, On September an ono. Interest is due at maturity for the RES and Dragoo notes, Interent is due on the first day of the month for the lhara and MGH notes. At September 30 , the balance in the Allowance for Doubtral Notes account is nil, in October, the following selected transactions were. completed. Oct. 1 Received the interest due from Ihara 31 Received notice that Drogon was unable to pay its note as scheduled it expects to be able to pay in the future. 31 The RES note matured and was received in full. 31 Accrued interest on the lhara and MGH notes. 31 Analyzed the remaining notes for collectibility, Estimated that $17,800 of notes maynot be confectlble in the future because of significant labouf issues currently being experienced by thara Calculate the balance in the Interest Receivable and Notes Receivable accounts at September 30,2021 . (Round answers to 0 decimai places, es. 5,275. Balance in the Interest Receivable Balance in the Notes Recewable Record the October tranisactions. (List all debit entries before credit entries. Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts Round answers to the nearest whole dollar, es. 5.275.) Notes Receivable Interest Recelvable Interest Income (To record collection of note and interest) Interest Receivable interest Income (To record accrual of interest) Bad Debts Expense. Allowance for Doubtful Notes (To record estimate of uncollectible (1) Prepare T accounts for the Interest Receivable, Notes Receivable, and Allowance for Doubtful Notes accounts, (2) enter the opening balances, (3) post the entries recorded above, and (4) determine the ending balances, (Post entries in the order of iournal entries presented in the previous part. Round answers to 0 decimal places, eg. 5.275.)