Pedroni Enterprises issues a $260,000, 45 day 5 % note to Zorzi Industries for merchandise inventory

a.Journalize Pedroni Enterprises entries to record:

1.The issuance of the note

2.The payment of the note at maturity

b.Journalize Zorzi Industries entries to record:

1.The receipt of the note

2.Receipt of the payment of the note at maturity

1. Lee Fuel Company is a small oil services company owned and operated by Brooks Lee. On October31_,2019 the end of the current year, Lee Company's accounting clerk prepared the following unadjusted trial balance Lee Fuel Company Unadjusted Trial Balance October 31, 2019 Debit Credit Cash 7,500 Accounts Receivable 38,400 Prepaid Insurance 7,200 Supplies 1,980 Land 112,500 Building 300,250 Accumulated Depreciation Building 87,550 Equipment 135,300 Accumulated Depreciation Equipment 97,950 Accounts Payable 12,150 Unearned Rent 6,750 Brooks Lee Capital 371,000 Brooks Lee Drawing 15,000 Fee's Earned 324,600 Salary 81 Wages Expense 193,370 Utilities Expense 42,375 Advertising Expense 22,800 Repairs Expense 17,250 Miscellaneous Expense 6,075 Total 900,000 900,000 Year End Adjustment Unexpired insurance at October 31 = $600 Supplies on hand on October 31 = $675 Depreciation of Building for the year = $12,000 Unearned Rent on October 31 = $2,250 Accrued Salary and Wages at October 31 = $2,800 Fees earned but unbilled on October 31 = $10,050