The following data relate to notes receivable and interest for Sciatic Co., a financial services company. (All

Question:

The following data relate to notes receivable and interest for Sciatic Co., a financial services company. (All notes are dated as of the day they are received.)

Mar. 3. Received a $14,000, 9%, 60-day note on account.

21. Received a $9,500, 8%, 90-day note on account.

May 2. Received $14,210 on note of March 3.

16. Received a $40,000, 7%, 90-day note on account.

31. Received a $6,000, 8%, 30-day note on account.

June 19. Received $9,690 on note of March 21.

30. Received $6,040 on note of May 31.

July 1. Received a $12,000, 12%, 30-day note on account.

31. Received $12,120 on note of July 1.

Aug. 14. Received $40,700 on note of May 16.


Instructions

Journalize the entries to record the transactions.


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Accounting

ISBN: 978-0324188004

21st Edition

Authors: Carl s. warren, James m. reeve, Philip e. fess

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