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The Bentley Company has a December 31 year end and uses a periodic inventory system. The Company has completed the following transactions in 2019 and
The Bentley Company has a December 31 year end and uses a periodic inventory system. The Company has completed the following transactions in 2019 and 2020 2019: October 15: sold goods to Tremblay receiving a 60-days, 6 percent note of $ 10 000 November 16: sold merchandise to E.Corbeil receiving a 60 days, 4 percent note of $15 000 December 14: Received amount due from Tremblay December 31: Recorded accrued interest on Corbeil's note 2020: January 15: Corbeil's note is not honoured January 31: Received amount due from Corbeil, including interest for the period of January 15 to January 31 at a rate of 4% REQUIRED : Record the required entries in the general journal Include short explanation and show your calculations Foc
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