8:45 AB K. 30% NWP Assessment Player Ul Application assessment.education wiley.com 6 Chapter 8 Assignment Question 3 of 5 -/4 Pharoah Supply Co. has the following transactions Nov. 1 15 Dec. 1 15 31 Mar. 1 June 15 Loaned $66,000 cash to A. Morgan on a one-year, 8% note. Sold goods to H. Giorgi on account for $12,000, terms n/30. The goods cost Pharoah $7,500. Pharoah uses the perpetual inventory system. Sold goods to Wrightman, Inc., receiving a $21,600, three-month, 6% note. The goods cost Pharoah $14.400. H. Giorgi was unable to pay her account. Giorgi gave Pharoah a six-month, 7% note in settlement of her account. Accrued interest revenue on all notes receivable. Interest is due at maturity. Collected the amount owing on the Wrightman note. H. Giorgi defaulted on the note. Future payment is expected. Record the transactions for Pharoah Supply Co. Pharoah Supply Co. has no stated return policy. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter "O"for the amounts. Record journal entries in the order presented in the problem.) Debit Credit Date Account Titles and Explanation & 50 2 @ 3 8:45 - 8293 + Chapter 8 Assignment Question 3 of 5 -/4 the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Nov. 1 Notes Receivable-Morgan Cash (Lend cash in exchange for a note.) Nov. 15 (To record sales on account.) To record cost of goods sold.) (To record sales in exchange for a note receivable.) MIO 3 E 5 a 6. 7 32 Q W E R T Y 1 8:45 - + Chapter 8 Assignment > Question 3 of 5 (To record cost of goods sold.) . (To record sales in exchange for a note receivable.) (To record cost of goods sold.) (Accept note for accounts receivable.) (Accrue interest earned.) MIT ob 2 @ 2 6 4 2 7 29 8:45 - + Chapter 8 Assignment - 14 Question 3 of 5