View Policies Current Attempt in Progress Flint Corporation closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year- end. On June 30, the Notes Receivable account balance is $ 25,600. Notes Receivable include the following. Date Maker Face Value Term Maturity Date Interest Rate April 21 Coote Inc. $ 4,000 90 days July 20 9% May 25 Brady Co. 8,400 60 days July 24 10% June 30 BMG Corp. 13,200 6 months December 31 5% During July, the following transactions were completed. July 5 Made sales of $ 4,800 on Flint Corporation credit cards. 14 Made sales of $ 800 on Visa credit cards. The credit card service charge is 3%. 20 Received payment in full from Coote Inc. on the amount due. 24 Received payment in full from Brady Co. on the amount due. Journalice the July transactions and the July 31 adjusting entry for accrued interest receivable Interest is computed using 360 days: omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually Recordjoumal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Julys Accounts Receivable 4,800 Sales Revenue 1,66 July 14 Cash 774 Service Charge Expense 24 Sales Revenue B! July 20 cash 4,090 Notes Receivable 4.01 Interest Revenue 21 Cash 8,510 Notes Receivable 2.44 Interest Revenue 14 July 31 Interest Receivable 55 Interest Revenue e Textbook and Media Enter the balances at July 1 in the receivable accounts and post the entries to all of the receivable accounts. (Past entrles in the order of joumal entries posted in the previous part.) Notes Receivable Accounts Receivable Interest Receivable Textbook and Media Show the balance sheet presentation of the receivable accounts at July 31. Flint Corporation Balance Sheet (Partial) $ e Textbook and Media Save for later Last saved 1 hour ago Attempts: 0 of 1 used Submit