Requirement 1. Record the transactions in Yummy Foods' journal. Assume that no sales returns are expected. Round all amounts to the nearest dollar. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Oct 31: Sold goods to Buffalo Grocers, receiving a $ 34 comma 000, three-month, 4% note. (You do not need to make the cost of goods sold journal entry for this transaction.)
A More Info - X 2018 Oct 31 Sold goods to Buffalo Grocers, receiving a $34,000, three-month, 4% note. (You do not need to make the cost of goods sold journal entry for this transaction.) 31 Made an adjusting entry to accrue interest on the Buffalo Grocers note. Dec 2019 Jan Nov Dec 31 Collected the Buffalo Grocers note. 11 Loaned $15,200 cash to St Thomas Provisions, receiving a 90-day, 10.25% note. 31 Accrued the interest on the St Thomas Provisions note. Print Done U Yummy Foods completed the following selected transactions. (Click here to see the transactions.) Read the requirements. Journal Entry Accounts Debit Credit Date 2018 Oct 34000 31 Note Receivable - Buffalo Grocers Sales Revenue 34000 Dec 31: Made an adjusting entry to accrue interest on the Buffalo Grocers note. (Round your final calculation to the nearest whole dollar.) Journal Entry Journal Entry Date Accounts Debit Credit 2018 Dec 31 Interest Receivable 227 Interest Revenue Jan 31: Collected the Buffalo Grocers note. (Round your final calculations to the nearest whole dollar.) Journal Entry Date Accounts Debit Credit Yummy Foods completed the following selected transactions. (Click here to see the transactions.) Read the requirements. Journal Entry Date Accounts Debit Credit 2019 Jan 31 Cash Note Receivable - Buffalo Grocers Interest Receivable Interest Revenue Nov 11: Loaned $15,200 cash to St Thomas Provisions, receiving a 90-day, 10.25% note. Journal Entry Date Accounts Debit Credit Yummy Foods completed the following selected transactions. (Click here to see the transactions.) Read the requirements. Journal Entry Accounts Date Debit Credit 2019 Nov 11 | Dec 31: Accrued the interest on the St Thomas Provisions note. (Use 365 days in the interest calculation. Round your final calculations to the nearest whole dollar.) Journal Entry (Click here to see the transactions.) Read the requirements. Round your final calculations to the nearest whole dollar.) Journal Entry Date Accounts Debit Credit 2019 Dec 31 0 Requirement 2. Show what Yummy Foods will report on its comparative classified balance sheet at December 31, 2019, and December 31, 2018, for Notes Receivable and Interest Receivable. (Only report the related transactions given. Ignore the cash balance as the transactions provided are only selected transactions.) Yummy Foods completed the following selected transactions. (Click here to see the transactions.) Read the requirements. Dec Requirement 2. Show what Yummy Foods will report on its comparative classified balance sheet at December 31, 2019, and December 31, 2018, for Notes Receivable and Interest Receivable. (Only report the related transactions given. Ignore the cash balance as the transactions provided are only selected transactions.) Balance Sheet (Partial) 2019 2018 Yummy Foods completed the following selected transactions. (Click here to see the transactions.) Read the requirements. Dec 31 Requirement 2. Show what Yummy Foods will report on its comparative classified balance sheet at December 31, 2019, and December 31, 2018, for Notes Receivable and Interest Receivable. (Only report the related transactions given. Ignore the cash balance as the transactions provided are only selected transactions.) Balance Sheet (Partial) 2019 2018
