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Print Item Entries for notes receivable, including year-end entries InstructionS Chart of Accounts Journal Journal Instructions The following selected transactions were completed by Fasteners Inc.
Print Item Entries for notes receivable, including year-end entries InstructionS Chart of Accounts Journal Journal Instructions The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing 203 Nov. 21 Received from McKenna Outer Wear Co., on account, a $78,000, 60-day, 8% note dated November 21 in settlement of a past due account Dec. 31 Recorded an adjusting entry for accrued interest on the note of November 21. 204 Jan 20 Received payment of note and interest from McKenna Outer Wear Co. Journalize the entries to record the transactions if no entry is required simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account tites Assume a 360-dav vear when caiculating interest Round answers to the nearest dollar amount 10 12/ Journal Journal Instructions Chart of Accounts Th General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 121 Accounts Receivable-McKenna Outer Wear Co 129 Allowance for Doubtful Accounts EXPENSES 510 Cost of Merchandise Sold 131 Interest Receivable 520 Sales Salaries Expense 132 Notes Receivable 521 Advertising Expense 141 Merchandise Inventory Jo 522 Depreciation Expense-Store Equipment 145 Office Supplies titi 523 Delivery Expense 146 Store Supplies
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