Question

The following data relate to notes receivable and interest for Generic Optic Co., a cable manufacturer and supplier. (All notes are dated as of the day they are received.)
June 1 Received a $15,800, 9%, 60-day note on account.
July 16 Received a $30,000, 10%, 120-day note on account.
31 Received $16,037 on note of June 1.
Sept. 1 Received a $24,000, 9%, 60-day note on account.
Oct. 31 Received $24,360 on note of September 1.
Nov. 8 Received a $24,000, 7%, 30-day note on account.
13 Received $31,000 on note of July 16.
30 Received a $15,000, 10%, 30-day note on account.
Dec. 8 Received $24,140 on note of November 8.
30 Received $15,125 on note of November 30.

Instructions
Journalize entries to record the transactions.



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  • CreatedMay 29, 2012
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