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Samberg Inc. had the following transactions. a. Oct. 1- Sold $16,000 of merchandise on account, 1/10, n/30 to McCormick Industries b, Nov. 1-Received a $16,000,
Samberg Inc. had the following transactions. a. Oct. 1- Sold $16,000 of merchandise on account, 1/10, n/30 to McCormick Industries b, Nov. 1-Received a $16,000, 90-day, 11% note from McCormick Industries to settle its $16,000 unpaid balance. c. Dec. 31- Accrued interest on the note. (Round your answer to the nearest whole dollar amount.) d. Jan. 31 - Received the interest on the note's maturity date e. Jan. 31-Received the principal on the note's maturity date. (Round your answer to the nearest whole dollar amount.) Required: Prepare the required journal entries
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