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The following data relate to notes recelvable and interest for Owens Co., a financial services company. (All notes are dated as of the day they
The following data relate to notes recelvable 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 $96,000,8%,60-day note on account. 31. Received a $21,600,9%,90-day note on account. May 7. Received $97,280 on note of March 8 . 16. Received a $68,400,12%,90-day note on account. June 11. Received a $18,000,6%,30-day note on account. 29. Received $22,086 on note of March 31 . July 26. Received $18,090 on note of June 11 . Aug. 4. Received a $2,400,11%,30-day note on account. 14. Received $70,452 on note of May 16. Dec. 2. Received $2,422 on note of August 4. June 29 Cash Notes Recetwabie : literest Revenue July 26 Cash - V Notes Receivable Interest Revenue - Aug. Aug. 14 Cash Notes Recetwable * Interest Revenue * Dec. 2 Cash. Notes Receivable * Interest Rowenue *
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