Instructions

The following selected transactions were completed by Interlocking Devices Co$.,$ a supplier of zippers for clothing:

$20$ Y $7$

Dec. $7$ Received from Unitarian Clothing $\backslash$& Bags Co$.,$ on account, a $\backslash$$$36,000,60-$day, $6\backslash \%$ note dated December $7.$

$31$ Recorded an adjusting entry for accrued interest on the note of December $7.$

$31$ Recorded the closing entry for interest revenue.

$20$ Y $8$

Feb. $5$ Received payment of note and interest from Unitarian Clothing $\backslash$& Bags Co$.$

Journalize the entries to record the transactions. Chart of Accounts

ASSETS

$110$ Cash

$111$ Petty Cash

$121$ Accounts Receivable$-$Unitarian Clothing $\backslash$& Bags Co$.$

$129$ Allowance for Doubtful Accounts

$131$ Interest Receivable

$132$ Notes Receivable

$141$ Merchandise Inventory

$145$ Office Supplies

$146$ Store Supplies

$151$ Prepaid Insurance

$181$ Land

$191$ Store Equipment

$192$ Accumulated Depreciation$-$Store Equipment

$193$ Office Equipment

$194$ Accumulated Depreciation$-$Office Equipment

LIABILITIES

$210$ Accounts Payable

$211$ Salaries Payable

$213$ Sales Tax Payable

$214$ Interest Payable

$215$ Notes Payable

EQUITY

$310$ Common Stock

$311$ Retained Earnings

$312$ Dividends

REVENUE

$410$ Sales

$610$ Interest Revenue

EXPENSES

$510$ Cost of Merchandise Sold

$520$ Sales Salaries Expense

$521$ Advertising Expense

$522$ Depreciation Expense$-$Store Equipment

$523$ Delivery Expense

$524$ Repairs Expense

$529$ Selling Expenses

$530$ Office Salaries Expense

$531$ Rent Expense

$532$ Depreciation Expense$-$Office Equipment

$533$ Insurance Expense

$534$ Office Supplies Expense

$535$ Store Supplies Expense

$536$ Credit Card Expense

$537$ Cash Short and Over

$538$ Bad Debt Expense

$539$ Miscellaneous Expense

$710$ Interest Expense

General Journal Instructions

Journalize the entries to record the transactions for the year $\backslash (20$ Y $7\backslash ).$

Journalize the entries to record the transactions for the year $\backslash (20$ Y $8\backslash ).$

ACCOUNTING EQUATION