Question: There are 32 entries to be made. please answer fast! Question 5 {12 points} Q Alpha Company had the following events during H 2011': Date:

 There are 32 entries to be made. please answer fast! Question5 {12 points} Q Alpha Company had the following events during H"2011': Date: Event Mar. 1 Accepted Bravo Company's 4 month. 9% note.as settlement of an outstanding $133M accounts receivable for goods sold inthe prior year. Mar. 15 Sold. 521.2% of equipment [from merchandise inventoryj

There are 32 entries to be made. please answer fast!

to Charlie Company and accepted a '3 months, 5'36 note. Mar. 21Loaned Delta Company szuoo cash and accepted a 9|] days, 995 note.June 1'] Received payment from Delta Company. July 1 Received payment fromBravo Company. Dec. 15 Received payment from Charlie Company. Alpha Company usesthe periodic system for inventory sales and prepares quarterly adjusting en'b'les. Usethis information to prepare the compound General Journal entries [wilout explanation] for

Question 5 {12 points} Q Alpha Company had the following events during H" 2011': Date: Event Mar. 1 Accepted Bravo Company's 4 month. 9% note. as settlement of an outstanding $133M accounts receivable for goods sold in the prior year. Mar. 15 Sold. 521.2% of equipment [from merchandise inventoryj to Charlie Company and accepted a '3 months, 5'36 note. Mar. 21 Loaned Delta Company szuoo cash and accepted a 9|] days, 995 note. June 1'] Received payment from Delta Company. July 1 Received payment from Bravo Company. Dec. 15 Received payment from Charlie Company. Alpha Company uses the periodic system for inventory sales and prepares quarterly adjusting en'b'les. Use this information to prepare the compound General Journal entries [wilout explanation] for all events related to the notes. Students may add the company names after the notes receivable account names to further Identify the various subsidiary note transactions. Calculations for any interest must be done on a standard sen day year for notes Where the term ls set in days. Lise whole months {or fractions thereof) for notes with term limiia set in months or years.

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!