Question: Check my w 2 Problem 8-14A Short-term notes receivable LO4 Seerden Servicing monitors its accounts receivable carefully. A review determined that a customer, John Daley

Servicing monitors its accounts receivable carefully. A review determined that a customer,

John Daley was unable to pay his $80.000 past due account Seerden

accepted a 90 day promissory note dated April 15, 2020, bearing interest

of 5% in exchange for Daley's account Another customer. ABC Drilling, signed

a 475%, six-month note cated May 1 in place of its $30.000

pas due accounts receivable. On May 31, Seerden's year end accrued interest

Check my w 2 Problem 8-14A Short-term notes receivable LO4 Seerden Servicing monitors its accounts receivable carefully. A review determined that a customer, John Daley was unable to pay his $80.000 past due account Seerden accepted a 90 day promissory note dated April 15, 2020, bearing interest of 5% in exchange for Daley's account Another customer. ABC Drilling, signed a 475%, six-month note cated May 1 in place of its $30.000 pas due accounts receivable. On May 31, Seerden's year end accrued interest was recorded on the notes receivable, John Daley honoured his note on the maturity date, ABC Drilling dishonoured its note on the maturity date on November 15. Seerden Servicing wrote off ABC Drilling's account as it was determined to be uncollectible Required: Prepare Seerden Servicing's entries for each of the following dates: (Use 365 days in o year. Do not round intermediate calculations. Round your answers to 2 decimal places.) Pro co a. April 15, 2020 b. May 1, 2020 c. May 31, 2020 d. Maturity date of John Daley's note e. Maturity date of ABC Drilling's note f. November 15, 2020 D View transaction list Journal entry worksheet 2 D. May 1, 2020 c. May 31, 2020 d. Maturity date of John Daley's note e. Maturity date of ARC Drilling's note 1. November 15, 2020 View transaction fist Journal entry worksheet > Hecard acceptance of a 5%, 90-day note Note: Enter det before credits Debit Credit Transaction General Journal Notes recev John Daley Accounts receivable John Daley Check my w 2 5. May 1, 2020 c. May 31, 2020 d. Maturity date of John Daley's note e. Maturity date of ABC Drilling's note f. November 15, 2020 10 point View transactions PUT Journal entry worksheet mene Record acceptance of a 4.75% six month note Enter det bare ed Transaction Debit Credit General Journal Notos recevable - ABC Onling Accounts receiva-ABC Orling entry Clear entry View general Journal Check 2 1. May 1, 2020 c. May 31, 2020 d. Maturity date of John Daley's note e. Maturity date of ABC Drilling's note f. November 15, 2020 10 point View transactions wool Journal entry worksheet > Record the accrued interest at year end. News Entert before and Transaction Debit Credit General Journal Interest receivable indest income PE Veneerumul Check 2 B. May 1, 2020 c. May 31, 2020 d. Maturity date of John Daley's note e. Matutity date of ABC Drilling's note . November 15, 2020 10 points View transaction ist Journal entry worksheet 4 > Record the collection of note Debit Credit Fusterte detits before credits Transaction General Journal d Cash interest receivable interest come Postcoat John Day 2 D. May 1, 2020 c. May 31, 2020 d. Maturity date of John Daley's note e. Maturity date of ABC Drilling's note f. November 15, 2020 0 bot View transactions Journal entry worksheet Record the distancur of note Notre des before credits Debit Credit Transaction General Journal Accounts receivable-ABC Online restocivable Pinterest income Notos receivable-ABC Driling Record entry Clear View general Journal 2 D. May 1, 2020 c. May 31, 2020 d. Maturity date of John Daley's note e. Maturity date of ABC Drilling's note f. November 15, 2020 10 Dos View transactions Journal entry worksheet Record the entry write-off of account receivable debit before credits Debit Credit Transaction General Journal Allowance for doubtful accounts Accounts ABC Oring Record entry Clear entry View general journal

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Journal Entries for Seerden Servicing Background Data Summary John Daley Note Date April 15 2020 Principal 80000 Term 90 days Interest Rate 5 ABC Dril... View full answer

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