Green Plains Supply Co. has the following transactions related to notes receivable during the last 2 months

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Green Plains Supply Co. has the following transactions related to notes receivable during the last 2 months of the year.

Nov. 1 Loaned $60,000 cash to B. Younger on a 1-year, 8% note.

Dec. 11 Sold goods to R. P. Meier, Inc., receiving a $3,600, 90-day, 7% note.

16 Received a $12,000, 6-month, 9% note to settle an open account from M. Chen.

31 Accrued interest revenue on all notes receivable.

Instructions

Journalize the transactions for Green Plains Supply Co.

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Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Apr 21, 2012 03:22 AM

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Green Plains Supply Co. has the following transactions related to notes receivable during the last 2 months

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Nov 1 Notes Receivable 60000 Cash 60000 Dec 11 Notes Receiva...View the full answer

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