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Suppose Nineth Nest Egg Bank engaged in the following transactions (Click the icon to view the transactions.) Journalize the 2018 and 2019 transactions on Nineth
Suppose Nineth Nest Egg Bank engaged in the following transactions (Click the icon to view the transactions.) Journalize the 2018 and 2019 transactions on Nineth Nest Egg's books. Explanations are not needed. Use a 365-day year to compute interest. Round interest calculations to the nearest dollar. Nineth Nest Egg's accounting period ends on December 31. (Record debits first, then credits. Exclude explanations from journal entries. Use a 365-day year to compute interest on notes stated in days. For notes stated in months, use the number of months when calculating interest.) Begin with the transactions for 2018 Apr. 1: Loaned $7,000 to Humdrum, Co. Received a three-month, 10% note Date Accourn More Info 2018 2018 Jul Dec. Loaned $7,000 to Humdrum, Co. Received a three-month, 10% note 1 Collected the Humdrum note at maturity. 1 Loaned $10,000 to Ursula, Inc. on a 120-day, 8% note Jul. 1: Collected the Humdrum no 31 Accrued interest revenue on the Ursula note 2019 Mar. 31 Collected the Ursula note at maturity Date 2018 Jul. 1 Accoun Print Done Dec. 1: Loaned $10,000 to Ursula, Inc. on a 120-day, 8%
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