Prepare the necessary journal entries for Evergreen for each of the above ignore the entry for the cost of goods sold Note If no entry is required for a transaction event, select No journal ent 1 Sold merchandise to Lennox, Incorporated, for ( $ 20,000 ) and accepted a ( 6 , 7 ) month note ( 6 ) is an appropriate rate for this type of note Record the transaction 2 Sold merchandise to Maddox Company that had a fair value of ( $ 15,040 ), and accepted a noninterest bearing note for which ( $ 16,000 ) payment is due on March 31 , 2025 Record the transaction 3 Sold merchandise to Carr Company for ( $ 14,000 ) with terms ( 2 10, n 30 ) Evergreen uses the gross method to account for cash discounts Record the transaction 4 Collected the entire amount due from Carr Company Record the transaction Prepare the necessary journal entries for Evergreen for each of the abo ignore the entry for the cost of goods sold Note If no entry is required for a transaction event, select No journal 7 Transferred receivables of ( $ 66,000 ) to a factor without recourse The factor charged Evergreen a ( 1 ) finance charge on the receivables transferred The sale criteria are met Record the transaction 8 Record the accrual of four months of interest on the note receivable issued on February 28 Record the transaction 9 Discounted the Lennox, Incorporated, note at the bank The bank's discount rate is ( 8 ) The note was discounted without recourse Record the transaction 10 Lennox, Incorporated, paid the note amount plus interest to the bank Record the transaction Prepare a schedule showing the effect of the journal entries on 2024 income before taxes Note Decreases should be indicated with a minus sign Prepare the necessary journal entries for Evergreen for each of the above ignore the entry for the cost of goods sold Note If no entry is required for a transaction event, select No journal ent Record the transaction 5 A customer returned merchandise costing ( $ 4,800 ) Evergreen reduced the customer's receivable balance by ( $ 6,600 ), the sales price of the merchandise Sales returns are recorded by the company as they occur Record the transaction 6 A customer returned merchandise costing ( $ 4,800 ) Record the transaction 7 Transferred receivables of ( $ 66,000 ) to a factor without recourse The factor charged Evergreen a ( 1 ) finance charge on the receivables transferred The sale criteria are met Record the transaction Evergreen Company sells lawn and garden products to wholesalers The company's fiscal year end is December 31 During 2024, the following transactions related to receivables occurred February 28 sold merchandise to Lennox, Incorporated, for ( $ 20,000 ) and accepted a 68,7 month note 68 is an appropriate rate for this type of note March 31 Sold merchandise to Maddox Company that had a fair value of ( $ 15,040 ), and accepted a noninterest bearing note for which ( $ 16,000 ) payment is due on March 31, 2025 April 3 Sold merchandise to Carr Company for ( $ 14,000 ) with terms ( 2 10,0 30 ) Evergreen uses the gross method to account for cash discounts April 11 Collected the entire amount due from Carr Company April 17 A customer returned merchandise costing ( $ 4,800 ) Evergreen reduced the customer's receivable balance by ( $ 6,680 ), the sales price of the merchandise Sales returns are recorded by the company as they occur April 30 Transferred receivables of ( $ 66,000 ) to a factor without recourse The factor charged Evergreen a 18 inance charge on the receivables transferred The sale criteria are met June 30 Discounted the Lennox, Incorporated, note at the bank The bank's discount rate is Bv The note was discounted without recourse September 30 Lennox, Incorporated, paid the note anount plus interest to the bank Required 1 Prepare the necessary journal entries for Evergreen for each of the above dates For transactions involving the sale of merchandise, ignore the entry for the cost of goods sold 2 Prepare any necessary adjusting entries at December 31, 2024 Adjusting entries are only recorded at year end 3 Prepare a schedule showing the effect of the journal entries on 2024 income before taxes Prepare any necessary adjusting entries at December 31, 2024 Adjusting entries are only recorded at year end Note If no entry is required for a transaction event, select No journal entry required in the first account field Journal entry worksheet Record accrued interest at December 31, 2024 Note Enter debits before credits Prepare any necessary adjusting entries at December 31, 2024 Adjusting entries are only recorded at year end Note If no entry is required for a transaction event, select No journal entry required in the first account field Journal entry worksheet Record accrued interest at December 31, 2024 Note Enter debits before credits Prepare a schedule showing the effect of the journal entries on 2024 income before taxes Note Decreases should be indicated with a minus sign Prepare the necessary journal entries for Evergreen for each of the abo ignore the entry for the cost of goods sold Note If no entry is required for a transaction event, select No journal 7 Transferred receivables of $66,000 to a factor without recourse The factor charged Evergreen a 1 finance charge on the receivables transferred The sale criteria are met Record the transaction 8 Record the accrual of four months of interest on the note receivable issued on February 28 Record the transaction 9 Discounted the Lennox, Incorporated, note at the bank The bank's discount rate is 8 The note was discounted without recourse Record the transaction 10 Lennox, Incorporated, paid the note amount plus interest to the bank Record the transaction Prepare the necessary journal entries for Evergreen for each of the above ignore the entry for the cost of goods sold Note If no entry is required for a transaction event, select No journal ent 1 Sold merchandise to Lennox, Incorporated, for $20,000 and accepted a 6 ,7 month note 6 is an appropriate rate for this type of note Record the transaction 2 Sold merchandise to Maddox Company that had a fair value of $15,040, and accepted a noninterest bearing note for which $16,000 payment is due on March 31 , 2025 Record the transaction 3 Sold merchandise to Carr Company for $14,000 with terms 2 10,n 30 Evergreen uses the gross method to account for cash discounts Record the transaction 4 Collected the entire amount due from Carr Company Record the transaction Evergreen Company sells lawn and garden products to wholesalers The company's fiscal year end is December 31 During 2024, the following transactions related to receivables occurred February 28 sold merchandise to Lennox, Incorporated, for $20,000 and accepted a 68,7 month note 68 is an appropriate rate for this type of note March 31 Sold merchandise to Maddox Company that had a fair value of $15,040, and accepted a noninterest bearing note for which $16,000 payment is due on March 31, 2025 April 3 Sold merchandise to Carr Company for $14,000 with terms 2 10,0 30 Evergreen uses the gross method to account for cash discounts April 11 Collected the entire amount due from Carr Company April 17 A customer returned merchandise costing $4,800 Evergreen reduced the customer's receivable balance by $6,680, the sales price of the merchandise Sales returns are recorded by the company as they occur April 30 Transferred receivables of $66,000 to a factor without recourse The factor charged Evergreen a 18 inance charge on the receivables transferred The sale criteria are met June 30 Discounted the Lennox, Incorporated, note at the bank The bank's discount rate is Bv The note was discounted without recourse September 30 Lennox, Incorporated, paid the note anount plus interest to the bank Required 1 Prepare the necessary journal entries for Evergreen for each of the above dates For transactions involving the sale of merchandise, ignore the entry for the cost of goods sold 2 Prepare any necessary adjusting entries at December 31, 2024 Adjusting entries are only recorded at year end 3 Prepare a schedule showing the effect of the journal entries on 2024 income before taxes Prepare the necessary journal entries for Evergreen for each of the above ignore the entry for the cost of goods sold Note If no entry is required for a transaction event, select No journal ent Record the transaction 5 A customer returned merchandise costing $4,800 Evergreen reduced the customer's receivable balance by $6,600, the sales price of the merchandise Sales returns are recorded by the company as they occur Record the transaction 6 A customer returned merchandise costing $4,800 Record the transaction 7 Transferred receivables of $66,000 to a factor without recourse The factor charged Evergreen a 1 finance charge on the receivables transferred The sale criteria are met Record the transaction

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... Prepare the necessary journal entries for. Evergreen for each of the above ignore the entry for the cost of goods sold. Note: If no

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Prepare the necessary journal entries for. Evergreen for each of the above ignore the entry for the cost of goods sold. Note: If no entry is required for a transaction/event, select "No journal ent 1 Sold merchandise to Lennox, Incorporated, for $ \$ 20,000 $ and accepted a $ 6 \%, 7- $ month note. $ 6 \% $ is an appropriate rate for this type of note. Record the transaction. 2 Sold merchandise to Maddox Company that had a fair value of $ \$ 15,040 $, and accepted a noninterest-bearing note for which $ \$ 16,000 $ payment is due on March 31 , 2025. Record the transaction. 3 Sold merchandise to Carr Company for $ \$ 14,000 $ with terms $ 2 / 10, n / 30 $. Evergreen uses the gross method to account for cash discounts. Record the transaction. 4 Collected the entire amount due from Carr Company. Record the transaction.

Prepare the necessary journal entries for. Evergreen for each of the abo ignore the entry for the cost of goods sold. Note: If no entry is required for a transaction/event, select "No journal 7 Transferred receivables of $ \$ 66,000 $ to a factor without recourse. The factor charged Evergreen a $ 1 \% $ finance charge on the receivables transferred. The sale criteria are met. Record the transaction. 8 Record the accrual of four months of interest on the note receivable issued on February 28. Record the transaction. 9 Discounted the Lennox, Incorporated, note at the bank. The bank's discount rate is $ 8 \% $. The note was discounted without recourse. Record the transaction. 10 Lennox, Incorporated, paid the note amount plus interest to the bank. Record the transaction.

Prepare a schedule showing the effect of the journal entries on 2024 income before taxes. Note: Decreases should be indicated with a minus sign.

Prepare the necessary journal entries for. Evergreen for each of the above ignore the entry for the cost of goods sold. Note: If no entry is required for a transaction/event, select "No journal ent Record the transaction. 5 A customer returned merchandise costing $ \$ 4,800 $. Evergreen reduced the customer's receivable balance by $ \$ 6,600 $, the sales price of the merchandise. Sales returns are recorded by the company as they occur. Record the transaction. 6 A customer returned merchandise costing $ \$ 4,800 $. Record the transaction. 7 Transferred receivables of $ \$ 66,000 $ to a factor without recourse. The factor charged Evergreen a $ 1 \% $ finance charge on the receivables transferred. The sale criteria are met. Record the transaction.

Evergreen Company sells lawn and garden products to wholesalers. The company's fiscal year-end is December 31 . During 2024, the following transactions related to receivables occurred: February 28 sold merchandise to Lennox, Incorporated, for $ \$ 20,000 $ and accepted a 68,7 -month note. 68 is an appropriate rate for this type of note. March 31 Sold merchandise to Maddox Company that had a fair value of $ \$ 15,040 $, and accepted a noninterest-bearing note for which $ \$ 16,000 $ payment is due on March 31, 2025 . April 3 Sold merchandise to Carr Company for $ \$ 14,000 $ with terms $ 2 / 10,0 / 30 $. Evergreen uses the gross method to account for cash discounts. April 11 Collected the entire amount due from Carr Company April 17 A customer returned merchandise costing $ \$ 4,800 $. Evergreen reduced the customer's receivable balance by $ \$ 6,680 $, the sales price of the merchandise. Sales returns are recorded by the company as they occur. April 30 Transferred receivables of $ \$ 66,000 $ to a factor without recourse. The factor charged Evergreen a 18 inance charge on the receivables transferred. The sale criteria are met. June 30 Discounted the Lennox, Incorporated, note at the bank. The bank's discount rate is Bv. The note was discounted without recourse. September 30 Lennox, Incorporated, paid the note anount plus interest to the bank. Required: 1. Prepare the necessary journal entries for Evergreen for each of the above dates. For transactions involving the sale of merchandise, ignore the entry for the cost of goods sold. 2. Prepare any necessary adjusting entries at December 31, 2024. Adjusting entries are only recorded at year-end. 3. Prepare a schedule showing the effect of the journal entries on 2024 income before taxes.

Prepare any necessary adjusting entries at December 31, 2024. Adjusting entries are only recorded at year-end. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record accrued interest at December 31, 2024. Note: Enter debits before credits. Prepare a schedule showing the effect of the journal entries on 2024 income before taxes. Note: Decreases should be indicated with a minus sign. Prepare the necessary journal entries for. Evergreen for each of the abo ignore the entry for the cost of goods sold. Note: If no entry is required for a transaction/event, select "No journal 7 Transferred receivables of $66,000 to a factor without recourse. The factor charged Evergreen a 1% finance charge on the receivables transferred. The sale criteria are met. Record the transaction. 8 Record the accrual of four months of interest on the note receivable issued on February 28. Record the transaction. 9 Discounted the Lennox, Incorporated, note at the bank. The bank's discount rate is 8%. The note was discounted without recourse. Record the transaction. 10 Lennox, Incorporated, paid the note amount plus interest to the bank. Record the transaction. Prepare the necessary journal entries for. Evergreen for each of the above ignore the entry for the cost of goods sold. Note: If no entry is required for a transaction/event, select "No journal ent 1 Sold merchandise to Lennox, Incorporated, for $20,000 and accepted a 6%,7 month note. 6% is an appropriate rate for this type of note. Record the transaction. 2 Sold merchandise to Maddox Company that had a fair value of $15,040, and accepted a noninterest-bearing note for which $16,000 payment is due on March 31 , 2025. Record the transaction. 3 Sold merchandise to Carr Company for $14,000 with terms 2/10,n/30. Evergreen uses the gross method to account for cash discounts. Record the transaction. 4 Collected the entire amount due from Carr Company. Record the transaction. Evergreen Company sells lawn and garden products to wholesalers. The company's fiscal year-end is December 31 . During 2024, the following transactions related to receivables occurred: February 28 sold merchandise to Lennox, Incorporated, for $20,000 and accepted a 68,7 -month note. 68 is an appropriate rate for this type of note. March 31 Sold merchandise to Maddox Company that had a fair value of $15,040, and accepted a noninterest-bearing note for which $16,000 payment is due on March 31, 2025 . April 3 Sold merchandise to Carr Company for $14,000 with terms 2/10,0/30. Evergreen uses the gross method to account for cash discounts. April 11 Collected the entire amount due from Carr Company April 17 A customer returned merchandise costing $4,800. Evergreen reduced the customer's receivable balance by $6,680, the sales price of the merchandise. Sales returns are recorded by the company as they occur. April 30 Transferred receivables of $66,000 to a factor without recourse. The factor charged Evergreen a 18 inance charge on the receivables transferred. The sale criteria are met. June 30 Discounted the Lennox, Incorporated, note at the bank. The bank's discount rate is Bv. The note was discounted without recourse. September 30 Lennox, Incorporated, paid the note anount plus interest to the bank. Required: 1. Prepare the necessary journal entries for Evergreen for each of the above dates. For transactions involving the sale of merchandise, ignore the entry for the cost of goods sold. 2. Prepare any necessary adjusting entries at December 31, 2024. Adjusting entries are only recorded at year-end. 3. Prepare a schedule showing the effect of the journal entries on 2024 income before taxes. Prepare the necessary journal entries for. Evergreen for each of the above ignore the entry for the cost of goods sold. Note: If no entry is required for a transaction/event, select "No journal ent Record the transaction. 5 A customer returned merchandise costing $4,800. Evergreen reduced the customer's receivable balance by $6,600, the sales price of the merchandise. Sales returns are recorded by the company as they occur. Record the transaction. 6 A customer returned merchandise costing $4,800. Record the transaction. 7 Transferred receivables of $66,000 to a factor without recourse. The factor charged Evergreen a 1% finance charge on the receivables transferred. The sale criteria are met. Record the transaction