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Samberg Incorporated had the following transactions. 25 a. October 1 - Sold $12,500 of merchandise on account, 2/10, n/30 to McCormick Industries. b. November 1
Samberg Incorporated had the following transactions. 25 a. October 1 - Sold $12,500 of merchandise on account, 2/10, n/30 to McCormick Industries. b. November 1 - Received a $12,500, 90-day, 10% note from McCormick Industries to settle its $12,500 unpaid balance. 5 points c. December 31 - Accrued interest on the note. (Round your answer to the nearest whole dollar amount.) X 02.57:16 d. January 31 - Received the interest on the note's maturity date. e. January 31 - Received the principal on the note's maturity date. (Round your answer to the nearest whole dollar amount.) Required: required for a transaction/event, select "No Journal Entry Required" in the first Prepare the required journal entries. (If no entry account field.) View transaction list Journal entry worksheet Record the entry for sale of merchandise on account to McCormick Industries. Note: Enter debits before credits. General Journal Debit Credit Date October 01 25 b. November 1 - Received a $12,500, 90-day, 10% note from McCormick Industries to settle Its $12,500 unpaid balance. c. December 31 - Accrued interest on the note. (Round your answer to the nearest whole dollar amount.) d. January 31 - Received the interest on the note's maturity date. e. January 31 - Received the principal on the note's maturity date. (Round your answer to the nearest whole dollar amount.) 5 points Required: 02:57:05 Prepare the required journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list X A merchandise on account to > Record the entry for sale McCormick Industries. dustries, B Record the entry for acceptance of promissory note in exchange of accounts receivable from McCormick Industries. C Record the entry for interest accrued on promissory note received from McCormick Industries. Credit D Record the entry for interest received, from McCormick Industries, on the note's maturity date. E Record the entry for payment received from McCormick Industries the principal on the note's maturity date. Note := journal entry has been entered
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