Journalize the following transactions of Prairie Theater Productions: July 8. Received a $30,000, 90-day, 8% note dated
Question:
Journalize the following transactions of Prairie Theater Productions:
July 8. Received a $30,000, 90-day, 8% note dated July 8 from Pennington Company on account.
Oct. 6. The note is dishonored by Pennington Company.
Nov. 5. Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to Pennington Company on October 6.
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Related Book For
Accounting
ISBN: 978-0324188004
21st Edition
Authors: Carl s. warren, James m. reeve, Philip e. fess
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