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The following selected transactions occurred during 2018 and 2019 for Norwegian Importers. The company ends its accounting year on June 30. (Click the icon to
The following selected transactions occurred during 2018 and 2019 for Norwegian Importers. The company ends its accounting year on June 30. (Click the icon to view the transactions.) Journalize all required entries. Make sure to determine the missing maturity date. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Apr. 1: Loaned $19,000 cash to Bob Jewitt on a one-year, 10% note Date Accounts and Explanation Debit Credit More info 2018 Apr. 1 19000 Note Receivable Bob Jewitt Cash 19000 2018 Apr. 1 Jun. 6 Loaned 519 000 cash to Bob Jewitt on a one-year, 10% nate Sold goods to Green Masters, receiving a 90-day, 6% nole for $12,000. Ignore Cost of Goods Sold. Made a single entry to accrue interest revenue on bath notes Collected the maturity value of the Green Masters note. Acceplod nole in exchange for cash. Jun 30 ? Jun. 6: Sold goods to Green Masters, receiving a 90-day, 6% note for $12,000. Ignore Cost of Goods Sold 2019 Date Accounts and Explanation Debit Credit Apr. 1 Collected the matunty value of the Jewitt note 2018 12000 Note Receivable-Green Masters Jun. 6 12000 Sales Revenus Print Done Sold goods for a note Jun 30. Made a single entry to accrue interest revenue on both nutes. (Use months for the one-year note interest oomputation and a 365-day year for the 90 day note interest computation Round to the nearest cent.) Debit Credit Date Accounts and Explanation 2018 Jun 30 Interest Receivable Interest Revenue 522.34|| 522.34 The following selected transactions occurred during 2018 and 2019 for Norwogian Importers. The company ends its accounting year on June 30. (Click the icon to view the transactions.) Journalize all required entries. Make sure to determine the missing maturity date. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit 2018 Jun. 30 interest Receivable Interest Revenue 522.34 522.34 Accrued interest revenue. X Collected the maturity value of the Green Masters note. Make sure to determine the missing maturity date. (Prepare a single compound journal entry. Use a 366-day year for this interest computation. Round to the nearest cent) Date Accounts and Explanation Debit Credit 2018 More info Sep.4 Cash 12177.53 Note Receivable Green Masters 1200) Interest Receivable 47.34 2018 Interest Revenue 130.19 Apr. 1 Loaned $19.000 cash to Bob Jewitt on a one-year, 10% note. Collected note receivable plus interest Sold goods to Green Masters, receiving a 90-day, 5% note for Jun. 6 $12,000. Ignore Cost of Goods Sold. Apr. 1: Collected the maturity value of the Jewitt note. (Prepare a single compound journal entry. Use months for this interest computation.) Jun 30 Made a single entry to accrue interest revenue on both notes Date Accounts and Explanation Dobit Credit ? Collected the maturity value of the Green Masters note 2019 2019 Apr. 1 Cash 20900 Apr. 1 Collected the maturity value of the Jewitt note. Note Receivable-Bob Jewitt 19000 Interest Receivable 475 Interest Revenue 1425 Print Done Collected not receivable plus interest
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