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SOS I HAVE 49 MINUTES LEFT AND I'M LOST Samberg Incorporated had the following transactions. a. October 1 - Sold $16,000 of merchandise on account,

SOS I HAVE 49 MINUTES LEFT AND I'M LOST

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Samberg Incorporated had the following transactions. a. October 1 - Sold $16,000 of merchandise on account, 2/11, n/30 to McCormick Industries. b. November 1 - Received a $16,000, 90-day, 11% note from McCormick Industries to settle its $16,000 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.) Required: Prepare the required journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the entry for sale of merchandise on account to McCormick Industries. Note: Enter debits before credits. Prepare the required journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first iccount field.) Journal entry worksheet D E > Record the entry for acceptance of promissory note in exchange of accounts receivable from McCormick Industries. Note: Enter debits before credits. Journal entry worksheet Record the entry for interest accrued on promissory note received from McCormick Industries. Note: Enter debits before credits. Journal entry worksheet A Record the entry for interest received, from McCormick Industries, on the note's maturity date. Note: Enter debits before credits. Journal entry worksheet Record the entry for payment received from McCormick Industries the principal on the note's maturity date. Note: Enter debits before credits

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