Question: Is it correct for August 29 dr notes payable 20,000 dr interest expense 329 cr cash 20329 Journalize the following transactions of Constantino General Services.
Is it correct for August 29
dr notes payable 20,000
dr interest expense 329
cr cash 20329
Journalize the following transactions of Constantino General Services. June 1 Received a 25-day 10% note as settlement for merchandise sold, P52,500. 6 Issued a P36,000 45-day 6% note for money borrowed. 23 Received a 60-day 16% note for P120,000 from an employee for money borrowed. 25 Received a P45,000, 30-day non-interest bearing note from a credit customer. 26 Collected the note that matures today. 30 Issued a P20, 000, 60-day 10% note for merchandise bought. July 21 Paid the note that matures today. 25 Collected the note that matures today. Aug 22 Collected the note issued by the employee. 29 Paid the note that matures today Step by Step Solution
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