Question

The following selected transactions occurred during 2013 and 2014 for Caspian Importers. The company ends its accounting year on April 30.
2013
Feb. 1 Loaned $ 14,000 cash to Brett Dowling on a one- year, 8% note.
Apr. 6 Sold goods to Putt Masters, receiving a 90-day, 6% note for $ 9,000. Ignore Cost of Goods Sold. Apr.
30 Made a single entry to accrue interest revenue on both notes. ? Collected the maturity value of the Putt Masters note.
2014
Feb. 1 Collected the maturity value of the Dowling note.
Journalize all required entries. Make sure to determine the missing maturity date.



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  • CreatedJanuary 16, 2015
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