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Wildhorse Co.closes its books on its July 31 year-end. The company does not make antries to accrue for interest accept at its year-end. On June
Wildhorse Co.closes its books on its July 31 year-end. The company does not make antries to accrue for interest accept at its year-end. On June 30, the Notes Receivable account balance is $26,800. Notas Receivable include the following Interest Rate Date April 21 May 25 June 30 Maker Coote Inc. Brady Co MG Corp. Face Value Term Maturity Date $5,200 90 days July 20 8,400 60 days July 24 13,200 6 months December 31 During July, the following transactions were completed. July 5 Made sales of $4.900 on Wildhorse credit cards. 14 Made sales of S800 on Visa credit cards. The credit card service charge is 296 20 Received payment in full from Coote Inc.on the amount due 24 Received payment in full from Brady Co. on the amount dus Your Answer Correct Answer - Your answer is partially correct. Enter the balances at July 1 in the receivable accounts and post the entries to all of the receivable accounts. (Post entries in the order of journal entries posted in the previous part) Notes Receivable 7. Bal. 259007 4900 7/20 YC D O 7131 Bal V Accounts Receivable 5700 Interest Receivable 7/21 7/31 BALT Show the balance sheet presentation of the receivable accounts at July 31. Wildhorse Co. Balance Sheet (Partial) For the Year Ended July 31, 2017
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