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Transactions Requirement 2. Show what General Mills will report on its comparative classified balance sheet (related to these transactions) as of December 31,20X1, and December
Transactions Requirement 2. Show what General Mills will report on its comparative classified balance sheet (related to these transactions) as of December 31,20X1, and December 31,20X2. Ignore the cash balance because the transactions provided are only selected transactions. (Round your answers to the nearest whole dollar.) Requirement 1. Record the transactions in General Mills's journal. Round interest amounts to the nearest dollar. November 30, 20X1: Sold goods to Sally's Inc., receiving a $56,000, three-month, 4% note. (Record debits first, then credits. Exclude explanations from journal entries.) March 1, 20X2: Received a 90-day, 7.5\%, $6,700 note from Laby Joli Got on account. (Record debits first, then credits. Exclude explanations from journal entries.) \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles & Debit & Credit \\ \hline \multicolumn{4}{|c|}{ March 1, 20X2 } \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} nearest whole dollar.) \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles & Debit & Credit \\ \hline \multicolumn{4}{|c|}{ May 29,20X2} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles & Debit & Credit \\ \hline \multicolumn{4}{|c|}{ December 16, 20X2 } \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}
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