Gwynne Supply Co. has the following transactions related to notes receivable during the last 2 months of
Question:
Nov. 1 Loaned $60,000 cash to B. Akey on a 1-year, 7% note.
Dec. 11 Sold goods to R. P. Mayrl, Inc., receiving a $3,600, 90-day, 8% note.
16 Received a $12,000, 6-month, 9% note to settle an open account from M. Colvin.
31 Accrued interest revenue on all notes receivable.
Instructions
Journalize the transactions for Gwynne Supply Co. (Omit cost of goods sold entries.)
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Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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