Mar.	29	Received a $50,400, 60-day, 9% note dated March 29 from Karie Platt on account.
Apr.	30	Received a $39,000, 60-day, 8% note dated April 30 from Jon Kelly on account.
May	28	The note dated March 29 from Karie Platt is dishonored, and the customer’s account is charged for the note, including interest.
June	29	The note dated April 30 from Jon Kelly is dishonored, and the customer’s account is charged for the note, including interest.
Aug.	26	Cash is received for the amount due on the dishonored note dated March 29 plus interest for 90 days at 8% on the total amount debited to Karie Platt on May 28.
Oct.	22	Wrote off against the allowance account the amount charged to Jon Kelly on June 29 for the dishonored note dated April 30.

Journalize the above transactions in the accounts of Missouri Gaming Co., which operates a riverboat casino.

 

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CHART OF ACCOUNTS Missouri Gaming Co. General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 810 Interest Revenue 121 Accounts Receivable-Karie Platt 122 Accounts Receivable-Jon Kelly EXPEN SES 129 Allowance for Doubtful Accounts 510 Cost of Merchandise Sold 131 Interest Receivable 520 Sales Salaries Expense 132 Notes Receivable 521 Advertising Expense 141 Merchandise Inventory 522 Deprecistion Expense-Store Equipment 145 Office Supplies 523 Delivery Expense 146 Store Supplies 524 Repairs Expense 151 Prepaid Insurance 529 Selling Expenses 181 Land 530 Office Salaries Expense 191 Store Equipment 531 Rent Expense 192 Accumulsted Depreciation-Store Equipment 532 Depreciation Expense-Office Equipment 193 Office Equipment 533 Insurance Expense 194 Accumulated Depreciation-Office Equipment 534 Office Supplies Expense 535 Store Supplies Expense LIABILITIES 536 Credit Card Expense 210 Accounts Payable 537 Cash Short and Over 211 Salaries Payable 538 Bad Debt Expense 213 Sales Tax Payable 530 Miscellaneous Expense 214 Interest Payable 710 Interest Expense 215 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends. 313 Income Summary CHART OF ACCOUNTS Missouri Gaming Co. General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 810 Interest Revenue 121 Accounts Receivable-Karie Platt 122 Accounts Receivable-Jon Kelly EXPEN SES 129 Allowance for Doubtful Accounts 510 Cost of Merchandise Sold 131 Interest Receivable 520 Sales Salaries Expense 132 Notes Receivable 521 Advertising Expense 141 Merchandise Inventory 522 Deprecistion Expense-Store Equipment 145 Office Supplies 523 Delivery Expense 146 Store Supplies 524 Repairs Expense 151 Prepaid Insurance 529 Selling Expenses 181 Land 530 Office Salaries Expense 191 Store Equipment 531 Rent Expense 192 Accumulsted Depreciation-Store Equipment 532 Depreciation Expense-Office Equipment 193 Office Equipment 533 Insurance Expense 194 Accumulated Depreciation-Office Equipment 534 Office Supplies Expense 535 Store Supplies Expense LIABILITIES 536 Credit Card Expense 210 Accounts Payable 537 Cash Short and Over 211 Salaries Payable 538 Bad Debt Expense 213 Sales Tax Payable 530 Miscellaneous Expense 214 Interest Payable 710 Interest Expense 215 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends. 313 Income Summary

Answer rating: 100% (QA)

Journal Entries JOURNAL ACCOUNTING EQUATIONS DATE DESCRIPTION ... View the full answer