EX 9-22 Entries for notes receivable, including year-end entries
The following selected transactions were completed by Zip-Up Co., a supplier of zippers for clothing:
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2011 |
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Dec. 10. |
Received from Point Loma Clothing & Bags Co., on account, a $36,000, 90-day, 4% note dated December 10. |
|
31 |
Recorded an adjusting entry for accrued interest on the note of December 10. |
|
31 |
Recorded the closing entry for interest revenue. |
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2012 |
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Mar. 9. |
Received payment of note and interest from Point Loma Clothing & Bags Co. |
Journalize the transactions.