Question: Nov. 1 Loaned $ 2 0 , 0 0 0 cash to Sara Rondelli on a 1 - year, 1 2 % note. Dec. 1

Nov. 1 Loaned $20,000 cash to Sara Rondelli on a 1-year, 12% note.
Dec. 11 Sold goods to Phair, Inc, receiving a $11,700,90-day, 8% note.
16 Received an $12,000,6-month, 9% note in exchange for Grace Tanner's outstanding accounts receivable.
31 Accrued interest revenue on all notes receivable.
Your answer is partially correct.
Journalize the transactions for Joe's Supply Co.(Use 360 days for calculation. Credit account titles are automatically indented when the amount is entered. Do not indent manuolly. Round intermediate calculations to 2 decimal places, e852.75 and final answers to 0 decimal places, es.1,525).
Date Account Titles and Explanation
eTextbook and Media
List of Accounts
Your answer is incorrect.
Record the collection of the Rondelli note at its maturity in 2022.(Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Date Account Titles and Explanation
Debit
Credit
Nov, 1
 Nov. 1 Loaned $20,000 cash to Sara Rondelli on a 1-year,

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!