Answer 33A

PS-33A Accounting for notes receivable, dishonored notes, and accrued Learning Objective 4 Dec 31, 2018 Income Summary CR 574 Consider the following tansactions for CC Publishing 2018 Dec. 6 Received a $18,000, 90-day, 6% note in settlement of an overdue accounts receivable from Go Go Publishing. Made an adjusting entry to accrue interest on the Go Go Publishing note. Made a closing entry for interest revenue. 31 31 2019 Mar. 6 Jun, 30 Oct. 2 Collected the maturity value of the Go Go Publishing note Loaned $11,000 cash to Lincoln Music, receiving a six-month, 20% note. Received a $2.400, 60-day, 20% note for a sale to Tusk Music. Ignore Cost of Goods Sold Dec. 1 Tusk Music dishonored its note at maturity. wrote off the receivable associated with Tusk Music. (Use the allowance 30 Collected the maturity value of the Lincoln Music note. Journalize all transactions for CC. Publishing Round all amounts to the nearest dollat