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.



$1.99
Sales1
Views219
Comments2
  • CreatedNovember 06, 2012
  • Files Included
Post your question
5000