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Roseland Design borrowed $700,000 on a 90-day note from CorpOne Funding Company. CorpOne discounts the note at 8%. (Assume a 360-day year is used for

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Roseland Design borrowed $700,000 on a 90-day note from CorpOne Funding Company. CorpOne discounts the note at 8%. (Assume a 360-day year is used for interest calculations.) Required: 1. Journalize Roseland's entries to record." a. The issuance of the note. b. The payment of the note at maturity 2. Journalize CorpOne's entries to record:* a. The receipt of the note b. The receipt of the payment of the note at maturity "Refer to the Chart of Accounts for exact wording of account nies CorpOne Funding Company General Ledger ASSETS REVENUE 410 Sales 110 Cash 111 Accounts Receivable 112 Interest Receivable 610 Interest Revenue 113 Notes Receivable 115 Merchandise inventory 116 Supplies 118 Prepaid Insurance EXPENSES 510 Cost of Merchandise Sold 520 Salaries Expense 525 Delivery Expense 526 Repairs Expense 120 Land 531 Rent Expense 123 Building 124 Accumulated Depreciation-Building 533 Insurance Expense Instruction Chart Of Accounts-Roseland Design Chart Of Accounts-CorpOne Funding Company 125 Office Equipment 126 Accumulated Depreciation Office Equipment LIABILITIES 210 Accounts Payable 213 Interest Payable 534 Supplies Expense 535 Payroll Tax Expense 536 Vacation Pay Expense 538 Cash Short and Over 539 Product Warranty Expense 541 Depreciation Expense-Building 542 Depreciation Expense-Office Equipment 590 Miscellaneous Expense 710 Interest Expense 214 Notes Payable 215 Salaries Payable 216 Social Security Tax Payable 217 Medicare Tax Payable 218 Employees Federal Income Tax Payable 219 Employees State Income Tax Payable 220 Medical Insurance Payable General Journal 1.2. Joumalze Roseland's entries to record the issuance of the note on September 1. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL DATE DESCRIPTION POST REF DEBIT CREDIT 1 3 1 1. Journalize Roseland's entries to record the payment of the note at maturity on November 30. Refer to the Chart of Accounts for exact wording of account titles. General Journal PAGE 1 JOURNAL DATE Y DESCRIPTION POST. RER DEBIT 1 CREDIT 2 General Journal 2. Journalize CorpOne's entries to record the receipt of the note on September 1. Refer to the Chart of Accounts for exact wording of account titles PAGE 1 JOURNAL DATE DESCRIPTION POST RET DET CREDIT I 2 2b. Journalize Corpones entries to record the receipt of me payment of the note at matwity on November 30, Refer to the Chart of Accounts for exact wording of account bites PAGE 1 JOURNAL DATE DESCRIPTION POST REE DEBIT CREDIT 2

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