Journalize the following entries in the Winston Co. books for August 1, September 1, and November 30. (Assume a 360-day year is used for interest calculations.)

August 1	Winston Co. purchased merchandise for $75,000 on account of Bagley Co., terms n/30.
September 1st	Winston Co. issued a 90-day 6% note for $75,000 on account.
November 30	Winston Co. paid the amount due.

Answer rating: 100% (QA)

SOLUTION August 10 Accounts Payable 75000 Invent... View the full answer