Question: MESSAGE MY INSTRUCTOR-FULL SCREEN pRi NTERVERSION || BACK Elburn Supply Co. has the following transactions related to notes receivable during the last 2 months of
MESSAGE MY INSTRUCTOR-FULL SCREEN pRi NTERVERSION || BACK Elburn Supply Co. has the following transactions related to notes receivable during the last 2 months of 2017. The company does not make entries to accrue interest except at December 31. Nov. 1 Dec. 11 16 31 Loaned $12,600 cash to Manny Lopez on a 12-month, 10% note. sold goods to Ralph Kremer, Inc., receiving a $24,750, 90-day, 8% note. Received a $22,800, 180 day, 10% note in exchange for Joe Ferretti's outstanding accounts receivable. Accrued interest revenue on all notes receivable. t account titles are automatically indented when amount is entered. Do not indent manually o decimal plac ces, e.g. 5,275. Record journal entries in the order presented in the problem.) Use 360 days for calculation. Round answers t Debit Credit Date Account Titles and Explanation 75 rP @^dx 3/2C 0
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
