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(The forms you need are on pages 448-457 of the Study Guide and Working Papers 14A-1. Journalize the following entries for (1) the buyer and
(The forms you need are on pages 448-457 of the Study Guide and Working Papers 14A-1. Journalize the following entries for (1) the buyer and (2) the seller. Recent Company received a $30,000, 90-day, 9% note for entries for the buyer first. G 20X9 June 11 July 11 Oct. 9 Lee Company sold $7,000 of merchandise on account to Rover Company Lee Company received a 90-day, $5,000, 8% note for a time extension de a past due account of Rover Company. Collected the Rover Company note on the maturity date. Assume Rover Company defaulted on its July 11 note and record the dis- honored note. Rover Company paid the note receivable that was dishonored on October 9 (no additional interest is charged). Oct. 9 Oct. 15 tad ik
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