Water Closet Co wholesales bathroom fixtures. During the current year ending December 31, Water Closet received the following notes: Date Face Amount Term Interest Rate 4% 1 Mar. 6 $75,000 60 days 2 40,000 45 days 6% Apr. 7 Aug. 12 3 36,000 120 days 5% 4 Oct 22 27,000 8% 30 days 90 days 5 Nov. 19 48.000 3% 6 Dec. 15 72.000 45 days 5% Required: 1. Determine for each note (@) the due date and (b) the amount of interest due at maturity, identifying each note by number. Assiya 360-day year. 2. Journalize the entry to record the dishonor of Note (3) on its due date. Refer to the chart of Accounts for exact wording of account titles. 3. Journalze the adjusting entry to record the accrued interest on Notes (5) and (6) on December 31. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year. Required: 1. Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying each note by number. Assume a 360-day year 2. Journalize the entry to record the dishonor of Note (3) on its due date. Refer to the Chart of Accounts for exact wording of account titles 3. Journalize the adjusting entry to record the accrued interest on Notes (5) and (6) on December 31. Refer to the Chart of Accounts for exact wording of account titles Assume a 360-day year. 4. Journalize the entries to record the receipt of the amounts due on Notes (5) and (6) in January and February. Refer to the Chart of Accounts for exact wording of account tities 1. Determine for each note (a) the due date and (b) the amount of interest due at maturity, Identifying each note by number. Assume a 360-day year Note Due Date Interest Due at Maturity 500 1 $ May 5 May 22 2. 3 Dec. 107 $ 2 4 Nov. 21 $ 180 5. Feb. 17 $ 360 6 Jan. 29 $ 450 2. Journalize the entry to record the dishonor of Note (3) on its due date Refer to the Chart of Accounts for exact wording of account titles All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback. JOURNAL Score: 6/37 ACCOUNTI DATE DESCRIPTION POST. RER DET CREDIT ASSETS LAB 1 Nov. 17 Accounts Receivable 3. Journalize the adjusting entry to record the accrued interest on Notes (5) and (6) on December 31. Refer to the Chart of Accounts for exact wording Assume a 360-day year Question not attempted. JOURNAL Score: 0/25 ACCOUNTI DATE DESCRIPTION POST. REK DERTI CREDIT ASSETS Point sting entry to record the accrued interest on Notes (5) and (6) on December 31. Refer to the Chart of Accounts for exact wording of account titles ar pted. PMGE JOURNAL Score: 0/25 ACCOUNTING EQUATION DESCRIPTION POST. REX DEBIT CREDIT ASSETS LIABILITIES EQUITY 4. Joumalize the entries to record the receipt of the amounts due on Notes (5) and (6) in January and February Refer to the Chart of Accounts for exac titles Question not attempted JOURNAL Score: 0/99 ACCOUNTI DATE DESCRIPTION POST. REF DENT CREDIT ASSETS + 2 3 es to record the receipt of the amounts due on Notes (5) and (6) in January and February. Refer to the Chart of Accounts for exact wording of account pted. JOURNAL Score: 0/99 ACCOUNTING EQUATION DESCRIPTION POST RER DEBIT CREDIT I ASSETS LIABILITIES EQUITY
