K The following selected transactions occurred during 2025 and 2026 for Arabian Importers. The company ends...
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K The following selected transactions occurred during 2025 and 2026 for Arabian Importers. The company ends its accounting year on June 30. View the transactions. Joumalize 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.) Transactions Apr. 1, 2025 Jun. 6, 2025 Loaned $15,000 cash to Benson, Inc. on a one-year, 12% note. Sold goods to Danksy Interiors, receiving a 90-day, 6% note for $12,000. Ignore Cost of Goods Sold. Jun. 30, 2025 Made a single entry to accrue interest revenue on both notes. Collected the maturity value of the Danksy Interiors note. ? Apr. 1, 2026 Collected the maturity value of the Benson, Inc. note. Print Done Next K The following selected transactions occurred during 2025 and 2026 for Arabian Importers. The company ends its accounting year on June 30. 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 li journal entry table.) Apr. 1: Loaned $15,000 cash to Benson, Inc. on a one-year, 12% note. Date Accounts and Explanation Apr. 1, 2025 Note Receivable-Benson, Inc. Cash Accepted note in exchange for cash. Debit Credit 15000 15000 Jun 6. Sold goods to Danksy Interiors receiving 00 day 60% note for $12.000 of Goods Sold Accepted note in exchange for casi. Jun. 6: Sold goods to Danksy Interiors, receiving a 90-day, 6% note for $12,000. Ignore Cost of Goods Sold. Date Accounts and Explanation Jun. 6, 2025 Note Receivable-Danksy Interiors Sales Revenue Sold goods for a note. Debit Credit 12000 12000 Jun. 30: Made a single entry to accrue interest revenue on both notes. (Use months for the one-year note interest computation and a 365-day year for the 90 day note interest computation. Round to the nearest cent.) Date Accounts and Explanation. Jun. 30, 2025 Interest Receivable Interest Revenue Accrued interest revenue. Debit Credit Jale (Prepare a single compound journal entry. Use a Collected the maturity value of the Danksy Interiors note. Make sure to determine the missing maturity date. (Prepare a single compound journal entry. Use a 365-day year for this interest computation. Round to the nearest cent.) Date Apr 1 Collectes Accounts and Explanation Debit Credit 7 Apr. 1: Collected the maturity value of the Benson, Inc. note. (Prepare a single compound journal entry. Use months for this interest computation.) 18 Date 19 19 Apr. 1, 2026 20 20 r Accounts and Explanation. Debit Credit Next K The following selected transactions occurred during 2025 and 2026 for Arabian Importers. The company ends its accounting year on June 30. View the transactions. Joumalize 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.) Transactions Apr. 1, 2025 Jun. 6, 2025 Loaned $15,000 cash to Benson, Inc. on a one-year, 12% note. Sold goods to Danksy Interiors, receiving a 90-day, 6% note for $12,000. Ignore Cost of Goods Sold. Jun. 30, 2025 Made a single entry to accrue interest revenue on both notes. Collected the maturity value of the Danksy Interiors note. ? Apr. 1, 2026 Collected the maturity value of the Benson, Inc. note. Print Done Next K The following selected transactions occurred during 2025 and 2026 for Arabian Importers. The company ends its accounting year on June 30. 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 li journal entry table.) Apr. 1: Loaned $15,000 cash to Benson, Inc. on a one-year, 12% note. Date Accounts and Explanation Apr. 1, 2025 Note Receivable-Benson, Inc. Cash Accepted note in exchange for cash. Debit Credit 15000 15000 Jun 6. Sold goods to Danksy Interiors receiving 00 day 60% note for $12.000 of Goods Sold Accepted note in exchange for casi. Jun. 6: Sold goods to Danksy Interiors, receiving a 90-day, 6% note for $12,000. Ignore Cost of Goods Sold. Date Accounts and Explanation Jun. 6, 2025 Note Receivable-Danksy Interiors Sales Revenue Sold goods for a note. Debit Credit 12000 12000 Jun. 30: Made a single entry to accrue interest revenue on both notes. (Use months for the one-year note interest computation and a 365-day year for the 90 day note interest computation. Round to the nearest cent.) Date Accounts and Explanation. Jun. 30, 2025 Interest Receivable Interest Revenue Accrued interest revenue. Debit Credit Jale (Prepare a single compound journal entry. Use a Collected the maturity value of the Danksy Interiors note. Make sure to determine the missing maturity date. (Prepare a single compound journal entry. Use a 365-day year for this interest computation. Round to the nearest cent.) Date Apr 1 Collectes Accounts and Explanation Debit Credit 7 Apr. 1: Collected the maturity value of the Benson, Inc. note. (Prepare a single compound journal entry. Use months for this interest computation.) 18 Date 19 19 Apr. 1, 2026 20 20 r Accounts and Explanation. Debit Credit Next
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