8.Journalize the following transactions (Assume a 360 day year when calculating interest.):
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Mar. 1 |
Received a 90 day, 10% note for $24,000, dated March 1, from Batson Co. on account. |
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May 30 |
The note of March 1 was dishonored. |
9.Journalize the following transactions for Solley Company that occurred during 2011 and 2012.
November 14, 2011 Received a $4,800.00, 90 day, 9% note from Alan Hibbetts in payment of his account.
December 31, 2011 Accrued interest on the Hibbetts note.
February 12, 2012 Received the amount due from Hibbetts on his note.
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Date |
Description |
Post Ref |
Debit |
Credit |