Sales and notes receivable transactions

The following were selected from among the transactions completed during the current year by Danix Wholesale Appliances:

Date transaction

January $21.$ Sold merchandise on account to Black Tie Co$.,$ $$28,000.$ The cost of goods sold was $$16,800.$

March $18.$ Accepted a $60-$day, $6\%$ note for $$28,000$ from Black Tie Co$.$ on account.

May $17.$ Received from Black Tie Co$.$ the amount due on the note of March $18.$

June $15.$ Sold merchandise on account, terms n$/30,$ to Pioneer Co$.$ for $$17,700.$ The cost of goods sold was $$10,600.$

June $21.$ Loaned $$18,000$ cash to JR Stutts, receiving a $30-$day, $8\%$ note.

June $25.$ Received from Pioneer Co$.$ the amount due on the invoice of June $15.$

July $21.$ Received the interest due from JR Stutts and a new $60-$day, $9\%$ note as a renewal of the loan of June $21.($Record both the debit and the credit to the notes receivable account.$)$

September $19.$ Received from JR Stutts the amount due on her note of July $21.$

September $22.$ Sold merchandise on account to Wycoff Co$.,$ $$20,000.$ The cost of goods sold was $$12,000.$

October $14.$ Accepted a $30-$day, $6\%$ note for $$20,000$ from Wycoff Co$.$ on account.

November $13.$ Wycoff Co$.$ dishonored the note dated October $14.$

December $28.$ Received from Wycoff Co$.$ the amount owed on the dishonored note, plus interest for $45$ days at $8\%$ computed on the maturity value of the note.

Required:

Journalize the entries to record the transactions. Assume $360$ days in a year. If an amount box does not require an entry, leave it blank. Assume this is a year in which February has $28$ days.Details of notes receivable and related entries

Gen$-$X Ads produces advertising videos. During the current year ending December $31,$ Gen$-$X Ads received the following notes:

Required:

Assume $360$ days in a year.

Determine for each note $($a$)$ the due date and $($b$)$ the amount of interest due at maturity, identifying each note by number.

$($b$)$ Interest Due

Note

$($a$)$ Due Date

at Maturity

$(1)$

$

$(2)$

$(3)$

$(4)$

$(5)$

$(6)$

Journalize the entry to record the dishonor of Note $(3)$ on its due date. If an amount box does not require an entry, leave it blank.

Journalize the adjusting entry to record the accrued interest on Notes $(5)$ and $(6)$ on December $31.$ If an amount box does not require an entry, leave it blank.

Dec. $31$

Journalize the entries to record the receipt of the amounts due on Notes $(5)$ and $(6)$ in January and February. If an amount box does not require an entry, leave it blank.

Note $5$

Note $6$