Question: quickly need help with part b please! Journalize the transactions for Whispering Supply Co. (Ignore entries for cost of goods sold.) (Credit account titles are


Journalize the transactions for Whispering Supply Co. (Ignore entries for cost of goods sold.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Use 360 days for calculation. Round answers to 0 decimal places, es. 5,275. Record journal entries in the order presented in the problem.) Record the collection of the Lopez note at its maturity in 2023. (Credit account titles are outomatically indented when amount is entered. Do not indent manually.) Whispering Supply Co. has the following transactions related to notes receivable during the last 2 months of 2022. The company does not make entries to accrue interest except at December 31. Nov. 1 Loaned $22,800 cash to Manny Lopez on a 12 month, 10% note. Dec. 11 Sold goods to Ralph Kremer, Inc, receiving a \$56,250, 90-day, 8\% note. 16 Received a $47,400,180 day, 12% note to settle an open account from Joe Fernetti. 31 Accrued interest revenue on all notes receivable
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
