sun ham MCCOUNTS uuual Instructions X The following were selected from among the transactions completed by Caldemeyer Co. during the current year. Caldemeyer sells and installs home and business security systems. Jan. 3 Loaned $18,000 cash to Trina Gelhaus, receiving a 90-day, 8% note. Feb. 10 Sold merchandise on account to Bradford & Co., $24,000. The cost of the goods sold was $14,400. 13 Sold merchandise on account to Dry Creek Co., $60,000. The cost of goods sold was $54,000. Mar. 12 14 Accepted a 60-day, 7% note for $24,000 from Bradford & Co. on account. Accepted a 60-day, 9% note for $60,000 from Dry Creek Co. on account. Received the interest due from Trina Gelhaus and a new 120-day, 9% note as a renewal of the loan of January 3. (Record both the debit and the credit to the notes receivable account.) Apr. 3 May 11 Received from Bradford & Co. the amount due on the note of March 12. 13 Dry Creek Co. dishonored its note dated March 14. July 12 Aug. 1 Received from Dry Creek Co. the amount owed on the dishonored note, plus interest for 60 days at 12% computed on the maturity value of the note. Received from Trina Gelhaus the amount due on her note of April 3. Sold merchandise on account, terms 2/10, n/30, to Halloran Co., $13,500. Record the sale net f the 2% discount. The cost of goods sold was $8,100. Oct. 5 Check My Work Previous Next Instructions 10 JUIU TEICITATUISE UIT account LU DIE VLEEN UU., puu,uvu. THE COST Or youus sulu was po4,Vuu. Mar. 12 Accepted a 60-day, 7% note for $24,000 from Bradford & Co. on account. 14 Accepted a 60-day, 9% note for $60,000 from Dry Creek Co. on account. Apr. 3 Received the interest due from Trina Gelhaus and a new 120-day, 9% note as a renewal of the loan of January 3. (Record both the debit and the credit to the notes receivable account.) May 11 Received from Bradford & Co. the amount due on the note of March 12. 13 Dry Creek Co. dishonored its note dated March 14. July 12 Received from Dry Creek Co. the amount owed on the dishonored note, plus interest for 60 days at computed on the maturity value the note. Aug. 1 Received from Trina Gelhaus the amount due on her note of April 3. Oct. 5 Sold merchandise on account, terms 2/10, n/30, to Halloran Co., $13,500. Record the sale net of the 2% discount. The cost of goods sold was $8,100. 15 Received from Halloran Co. the amount of the invoice of October 5, less 2% discount. Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year. Assume this is a year in which February has 28 days. Chart of Accounts CHART OF ACCOUNTS Caldemeyer Co. General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 121 Accounts Receivable-Bradford & Co. 122 Accounts Receivable-Dry Creek Co. EXPENSES 123 Accounts Receivable-Trina Gelhaus 510 Cost of Goods Sold 124 Accounts Receivable-Halloran Co. 520 Sales Salaries Expense 129 Allowance for Doubtful Accounts 521 Advertising Expense 131 Interest Receivable 522 Depreciation Expense-Store Equipment 132 Notes Receivable 523 Delivery Expense 141 Inventory 524 Repairs Expense Chart of Accounts 141 Inventory 524 Repairs Expense 145 Office Supplies 529 Selling Expenses 146 Store Supplies 530 Office Salaries Expense 151 Prepaid Insurance 531 Rent Expense 181 Land 532 Depreciation Expense-Office Equipment 191 Store Equipment 533 Insurance Expense 192 Accumulated Depreciation-Store Equipment 534 Office Supplies Expense 193 Office Equipment 535 Store Supplies Expense 194 Accumulated Depreciation Office Equipment 536 Credit Card Expense 537 Cash Short and Over LIABILITIES 538 Bad Debt Expense 210 Accounts Payable 539 Miscellaneous Expense 211 Salaries Payable 710 Interest Expense 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable eBook Print Item Journal which Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year. Assume this is a year February has 28 days. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 2 3 4 5 6 7 8 Check My Work Previous Next > Sales and notes receivable transactions Instructions Chart of Accounts Journal Journal 8 9 10 11 12 13 14 15 16 17 18 19 20 Check My Work Previous Next > Sales and notes receivable transactions Instructions Chart of Accounts Journal Journal 25 26 27 28 29 50 31 32 33 34 35 36 Check My Work Previous Next