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The following data relate to notes receivable and interest for Owens Co., a financial services company. (All notes are dated as of the day they
The following data relate to notes receivable and interest for Owens Co., a financial services company. (All notes are dated as of the day they are received.) Assume 360 days in a year. Mar. 8. Received a $66,000,6%,60-day note on account. 31. Received a $21,600,7%,90-day note on account. May 7. Received $66,660 on note of March 8. 16. Received a $51,600,8%,90-day note on account. June 11. Received a $42,000,9%,30-day note on account. 29. Received $21,978 on note of March 31. July 26. Received $42,315 on note of June 11. Aug. 4. Received a $6,000,10%,30-day note on account. 14. Received $52,632 on note of May 16 . Dec. 2. Received $6,050 on note of August 4 . Required: Journalize the entries to record the transactions. For a compound transactions, if an amount box does not require an entry, leave it blank. Mar. 8 Mar. 31 May 7 May 16 June 11 June 29
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