J. K. Pratt Co. had the following transactions: 20-1 July 20 Received a $750, 30-day, 5%...
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J. K. Pratt Co. had the following transactions: 20-1 July 20 Received a $750, 30-day, 5% note from J. Akita in payment for sale of merchandise. Aug. J. Akita paid note issued July 20 plus interest. 19 25 Sold merchandise on account to L. Beene, $1,100. Sept. 5 L. Beene paid $100 and gave a $1,000, 30-day, 6% note to extend time for payment. L. Beene paid note issued September 5, plus interest. Oct. 5 10 Sold merchandise to R. Harris for $750: $50 plus a $700, 30-day, 6% note. 680 681 Nov. 9 R. Harris paid $200 plus interest on note issued October 10 and extended the note ($500) for 30 days. Dec. R. Harris paid note extended on November 9, plus interest. 10 Sold merchandise on account to B. Kraus, $1,500. 15 B. Kraus paid $150 on merchandise purchased on account, and gave a $1,350, 30- day, 7% note to extend time for payment. 20-2 Jan. 14 B. Kraus's note of December 15 is dishonored. Feb. 13 Collected B. Kraus's dishonored note, plus interest at 7% on the maturity value. REQUIRED Record the transactions in a general journal. G D E K L. M Post the account names and the debit and credit amounts. Some of the account names are provided. Fill in the names of the missing accounts and the account numbers as the posting reference. The dates and descriptions have also been provided. This journal entry is provided as an exampie. riease note tnat no aeDit or DATE ALCOUNTS & DESCRIPTIONS POST REF 16 Jul. 20 Notes Receivable 750.00 credit amount is recorded on the last 17 1.1 Sales 750.00 row. This is just a description of the transaction. 18 19 20 21 dr cr 22 J.2 Aug. 19 Cash 23 24 25 26 27 28 dr cr 29 J.3 Aug. 25 Account Recelvable 30 Sales 31 32 33 34 dr cr 35 J.4 Sept. 5 Cash 36 37 38 19 40 41 dr cr 42 J.5 Oct. 5 43 Notes Recelvable 44 45 46 47 48 dr cr 49 J.6 Oct. 10 Cash 50 51 52 53 54 55 dr cr 56 J.7 Νov. 9 Cash 57 58 59 60 61 62 63 dr cr 64 1.8 Dec. 9 Cash 65 66 67 68 69 70 dr cr 71 J.9 Dec. 10 72 Sales 73 74 75 76 dr cr 77 1.10 Dec. 15 Cash 78 80 81 82 83 dr cr 84 J.11 Jan. 14 Accounts Receivable 85 86 89 90 dr cr 91 1.12 Feb. 13 Cash 92 93 94 95 96 97 99 J. K. Pratt Co. had the following transactions: 20-1 July 20 Received a $750, 30-day, 5% note from J. Akita in payment for sale of merchandise. Aug. J. Akita paid note issued July 20 plus interest. 19 25 Sold merchandise on account to L. Beene, $1,100. Sept. 5 L. Beene paid $100 and gave a $1,000, 30-day, 6% note to extend time for payment. L. Beene paid note issued September 5, plus interest. Oct. 5 10 Sold merchandise to R. Harris for $750: $50 plus a $700, 30-day, 6% note. 680 681 Nov. 9 R. Harris paid $200 plus interest on note issued October 10 and extended the note ($500) for 30 days. Dec. R. Harris paid note extended on November 9, plus interest. 10 Sold merchandise on account to B. Kraus, $1,500. 15 B. Kraus paid $150 on merchandise purchased on account, and gave a $1,350, 30- day, 7% note to extend time for payment. 20-2 Jan. 14 B. Kraus's note of December 15 is dishonored. Feb. 13 Collected B. Kraus's dishonored note, plus interest at 7% on the maturity value. REQUIRED Record the transactions in a general journal. G D E K L. M Post the account names and the debit and credit amounts. Some of the account names are provided. Fill in the names of the missing accounts and the account numbers as the posting reference. The dates and descriptions have also been provided. This journal entry is provided as an exampie. riease note tnat no aeDit or DATE ALCOUNTS & DESCRIPTIONS POST REF 16 Jul. 20 Notes Receivable 750.00 credit amount is recorded on the last 17 1.1 Sales 750.00 row. This is just a description of the transaction. 18 19 20 21 dr cr 22 J.2 Aug. 19 Cash 23 24 25 26 27 28 dr cr 29 J.3 Aug. 25 Account Recelvable 30 Sales 31 32 33 34 dr cr 35 J.4 Sept. 5 Cash 36 37 38 19 40 41 dr cr 42 J.5 Oct. 5 43 Notes Recelvable 44 45 46 47 48 dr cr 49 J.6 Oct. 10 Cash 50 51 52 53 54 55 dr cr 56 J.7 Νov. 9 Cash 57 58 59 60 61 62 63 dr cr 64 1.8 Dec. 9 Cash 65 66 67 68 69 70 dr cr 71 J.9 Dec. 10 72 Sales 73 74 75 76 dr cr 77 1.10 Dec. 15 Cash 78 80 81 82 83 dr cr 84 J.11 Jan. 14 Accounts Receivable 85 86 89 90 dr cr 91 1.12 Feb. 13 Cash 92 93 94 95 96 97 99
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