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takeassignmentSessionLocator.&inprog Update Apple ID Settings Some account services will not be available until you sign in again. Vie eBook Print Item Sales and notes receivable

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takeassignmentSessionLocator.&inprog Update Apple ID Settings Some account services will not be available until you sign in again. Vie eBook Print Item Sales and notes receivable transactions Instructions Chart of Accounts Journal Instructions The following were selected from among the transactions completed by Caldemeyer Co, during the current year Caldemeyer Co. sells and installs home and business security systems Jan 3 Feb 10 13 Mar. 12 14 Apr. 3 Loaned $18,000 cash to Trina Gothaus, receiving a 90-day, 8% note Sold merchandise on account to Bradford & Co, $24,000. The cost of the merchandise sold was $14,400. Sold merchandise on account to Dry Creek Co., $60,000. The cost of merchandise sold was $54,000 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. Use a compound Journal entry with debits before credits.) Received from Bradford & Co the amount due on the note of March 12. Dry Creek Co. dishonored its note dated March 14. 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 noto. Received from Trina Gelhaus the amount due on her note of April 3 May 11 13 July 12 Aug 1 12 14 Apr 3 May 11 Accepted a 60-day, 7% noto 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. Use a compound journal entry with debits before credits.) Received from Bradford & Co the amount due on the note of March 12. Dry Creek Co. dishonored its note dated March 14. 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 to Halloran Co., $13,500. The cost of the merchandise sold was $8,100 Received from Halloran Co the amount of the invoice of October 5. 13 July 12 Aug 1 Oct. 5 15 Required: Journalize the entries to record the transactions. Refer to the chart of accounts for the exact wording or the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debitor credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Assume a 360-day year when calculating interest ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 420 Sales Discounts 610 Interest Revenue 121 Accounts Receivable-Bradford & Co. 122 Accounts Receivable-Dry Creek Co. 123 Accounts Receivable-Trina Gelhaus EXPENSES 510 Cost of Merchandise Sold 124 Accounts Receivable-Halloran Co. 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Repairs Expense 529 Selling Expenses I 530 Office Salaries Expense 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 194 Accumulated Depreciation Office Equipment 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 536 Crit 530 Office Salaries Expense 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation Store Equipment 193 Office Equipment 194 Accumulated Depreciation Office Equipment 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY I 310 Owner, Capital 311 Owner, Drawing

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