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Your answer is partially correct. Marigold Corp. has the following transactions related to notes receivable during the last 2 months of the year. The company
Your answer is partially correct. Marigold Corp. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to accrue interest except at December 31 Dec 11 Nov 1 Loaned $78,000 cash to C. Bohr on a 12-month, 11% note. Sold goods to K. R. Pine, Inc., receiving a $3,600, 90-day, 8% note. (Omit cost of goods sold entries.) Received a 512,000, 180-day, 9% note to settle an open account from A. Murdock. Accrued interest revenue on all notes receivable. 16 31 Journalize the transactions for Marigold Corp. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Use 360 days for calculation. Round intermediate calculations to 2 decimal places, es. 15.25 and final answers to decimal places, 23,5,275. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Nov. 1 78.000 Notes Receivable Cash 78.000 E 2.7973 on 2 OT 5 eg. 5,275: Recora journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Nov. 1 Notes Receivable 78,000 Cash 78,000 Dec 11 Notes Receivable 3.600 Sales Revenue 3.600 Dec 16 Notes Receivable 12,000 Accounts Receivable 12,000 Dec 31 Interest Receivable 725 Interest Revenue 775 e Teythank and Media
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