The following data relate to notes receivable and interest for Clyde Park Optic Co., a cable manufacturer

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The following data relate to notes receivable and interest for Clyde Park Optic Co., a cable manufacturer and supplier. (All notes are dated as of the day they are received.)

June 4. Received an $18,800, 9%, 60‐day note on account

July 15. Received a $27,000, 10%, 120‐day note on account

Aug. 3. Received $19,082 on note of June 4

Sept. 1. Received a $24,000, 9%, 60‐day note on account

Oct. 31. Received $24,360 on note of September 1

Nov. 5. Received a $9,600, 7%, 30‐day note on account

12. Received $27,900 on note of July 15

30. Received a $15,000, 10%, 30‐day note on account

Dec. 5. Received $9,656 on note of November 5

30. Received $15,125 on note of November 30

Journalize entries to record the transactions.


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Financial Accounting An Integrated Statements Approach

ISBN: 978-0324312119

2nd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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