Chapter 8 Question 5

Answer all the requirements please.

The following selected transactions occurred during 2024 and 2025 for Red Sea Importers. The company ends its accounting year on November 30 . 1) (Click the icon to view the transactions.) Journalize all required entries. Make sure to determine the missing maturity date. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) San 1 I nanad \$.1n nnn rach ta Carnl Smutho an a nno-uagr 12% nnto More info 2024 Sep. 1 Loaned $10,000 cash to Carol Smythe on a one-year, 12% note. Nov. 6 Sold goods to Putt Masters, receiving a 90 -day, 6% note for $12,000. Ignore Cost of Goods Sold. Nov. 30 Made a single entry to accrue interest revenue on both notes. ? Collected the maturity value of the Putt Masters note. 2025 Sep. 1 Collected the maturity value of the Smythe