Question: Current Attempt in Progress Tri Town Supply Corp. has the following selected transactions for notes receivable. Nov. 1 Lent $148,000 cash to A. Bouchard on
Current Attempt in Progress Tri Town Supply Corp. has the following selected transactions for notes receivable. Nov. 1 Lent $148,000 cash to A. Bouchard on a one-year, 9% note. Dec. 1 Sold goods to Wright Inc., receiving a two-month, 6%, $32,200 note. Interest is due at maturity. The goods cost $20,136. 15 Received a six-month, 6%,$35,520 note in exchange for an account from Aquilina Corporation. Interest is due at maturity. Feb. 1 Collected the amount owing on the Wright note. 28 Accrued interest on all notes receivable at year end. Assume that interest is calculated to the nearest half month. Record the above transactions for Tri Town Supply Corp. (List all debit entries before credit entries. Credit account titles are
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