Record the following transactions in the journal of Bingham Phone Accessories, Inc. Explanations are not required. Use a 360-day year for interest computations and round to the nearest dollar. (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from any journal entries.) ectana Dec 16: Received a $6,000, 90-day, 10% note on account from Free World Music. Journal Entry Date Accounts Debit Credit Dec 16, 2017 Dec 31: Made an adjusting entry to accrue interest on Free World Music note. (Use a 360-day year for your calculation. Enter amounts to the nearest dollar.) Journal Entry More Info Date Accounts Debit Credit 31, 2017 Dec 2017 Received a $6,000, 90-day, 10% note on account from Free World Music. Dec 16 31 Made an adjusting entry to accrue interest on Free World Music note. 2018 Mar 15: Collected the maturity value of Free World Music note. (Enter amounts to the nearest dollar.) Mar 15 Collected the maturity value of Free World Music note. Loaned $8,000 cash to Love Joy Music, receiving a six-month, 9% note. Jun 1 Journal Entry Received a $5,000, 90-day, 14% note from Salem Sounds on its past-due account Oct 31 receivable. Date Accounts Debit Credit Dec 1 Collected the maturity value of the Love Joy Music note. 15, 2018 Mar Dec 31 Make an adjusting entry to accrue interest on the Salem Sounds note. Jun 1: Loaned $8,000 cash to Love Joy Music, receiving a six-month, 9% note. Journal Entry Accounts Credit Date Debit 1, 2018 Jun Oct 31: Received a $5,000, 90-day, 14% note from Salem Sounds on its past-due account receivable Journal Entry Credit Date Accounts Debit 31, 2018 Oct Dec 1: Collected the maturity value of the Love Joy Music note. Journal Entry Date Accounts Debit Credit 1, 2018 Dec Dec 1: Collected the maturity value of the Love Joy Music note. Journal Entry Date Accounts Debit Credit 1, 2018 Dec Dec 31: Make an adjusting entry to accrue interest on the Salem Sounds note. (Use a 360-day year for your calculation. Enter amounts to the nearest dollar.) Journal Entry Accounts Debit Date Credit 31, 2018 Dec Record the following transactions in the journal of Bingham Phone Accessories, Inc. Explanations are not required. Use a 360-day year for interest computations and round to the nearest dollar. (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from any journal entries.) ectana Dec 16: Received a $6,000, 90-day, 10% note on account from Free World Music. Journal Entry Date Accounts Debit Credit Dec 16, 2017 Dec 31: Made an adjusting entry to accrue interest on Free World Music note. (Use a 360-day year for your calculation. Enter amounts to the nearest dollar.) Journal Entry More Info Date Accounts Debit Credit 31, 2017 Dec 2017 Received a $6,000, 90-day, 10% note on account from Free World Music. Dec 16 31 Made an adjusting entry to accrue interest on Free World Music note. 2018 Mar 15: Collected the maturity value of Free World Music note. (Enter amounts to the nearest dollar.) Mar 15 Collected the maturity value of Free World Music note. Loaned $8,000 cash to Love Joy Music, receiving a six-month, 9% note. Jun 1 Journal Entry Received a $5,000, 90-day, 14% note from Salem Sounds on its past-due account Oct 31 receivable. Date Accounts Debit Credit Dec 1 Collected the maturity value of the Love Joy Music note. 15, 2018 Mar Dec 31 Make an adjusting entry to accrue interest on the Salem Sounds note. Jun 1: Loaned $8,000 cash to Love Joy Music, receiving a six-month, 9% note. Journal Entry Accounts Credit Date Debit 1, 2018 Jun Oct 31: Received a $5,000, 90-day, 14% note from Salem Sounds on its past-due account receivable Journal Entry Credit Date Accounts Debit 31, 2018 Oct Dec 1: Collected the maturity value of the Love Joy Music note. Journal Entry Date Accounts Debit Credit 1, 2018 Dec Dec 1: Collected the maturity value of the Love Joy Music note. Journal Entry Date Accounts Debit Credit 1, 2018 Dec Dec 31: Make an adjusting entry to accrue interest on the Salem Sounds note. (Use a 360-day year for your calculation. Enter amounts to the nearest dollar.) Journal Entry Accounts Debit Date Credit 31, 2018 Dec
