Question: practice problems need help! very hard! DI Requirements 1. Journalize the transaction on March 1. 2. Journalize the adjusting entry needed on March 31 to


DI Requirements 1. Journalize the transaction on March 1. 2. Journalize the adjusting entry needed on March 31 to accrue interest revenue. Round to the nearest dollar. 3. Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar. Print Done X Requirement 1. Journalize the transaction on March 1. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Mar. 1 Requirement 2. Journalize the adjusting entry needed on March 31 to accrue interest revenue. Round to the nearest dollar. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. For notes stated in days, use a 365-day year.) Date Accounts and Explanation Debit Credit Mar. 31 Requirement 3. Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar. (Record debits first, then credits Select the explanation on the last line of the inumal entry table For notes stated in davs use a 365-day vaar) Requirement 3. Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. For notes stated in days, use a 365-day year) Date Accounts and Explanation Debit Credit On March 1, Kris Corporation accepted a 60-day, 9%, $21,900 note receivable from J. Brown in exchange for his account receivabilo. Read the requirement CIL Requirement 1. Journalize the transaction on March 1. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Accounts and Explanation Date Debit Credit Mar. 1 Requirement 2. Journalize the adjusting entry needed on March 31 to accrue interest revenue. Round to the nearest dollar. (Record debits first, then credit explanation on the last line of the journal entry table. For notes stated in days, use a 365-day year.) EX Date Debit Credit Accounts and Explanation Mar, 31 38 W
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
