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what is the correct entry and figures for the errors ? On January 2 uri Ltd. sold merchandise on account to Rames for $48.000./30 The
what is the correct entry and figures for the errors?
On January 2 uri Ltd. sold merchandise on account to Rames for $48.000./30 The come perpetual inventory system and the merchandise originally cost $32,000 on February 1, R. James gave Kurilave month note in settlement of this account. Interest is due at the beginning of each month, starting March 1. On April 30, kuris year and annatusting entries were made on July 1. R. James paid the note and any remaining interest. Prepare the journal entries for Kuril to record the transactions only on the dates listed above is all debit entries before credit entre Credit accounts are automatically indented when the amount is entered. Do not indet manually. If no entry is required, select "No Entry for the account title and enter of the amounts) Debit Credit Date Jan 2 Account Titles and Explanation Accounts Receivable 10000 48000 Sale To record sales Cost of Good Sond 32000 32000 Inventory To record cost of merchandise sold) Notes Receivable Feb 1 48000 Accounts Receivable 48000 Mar. 1 Interest Receivable 560 Interest income 560 April 30 Interest Revable 840 Interest income 840 July 1 Cash 49500 Interest income 1400 48000 Notes ReceivableStep by Step Solution
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