need test completed by april 30th 495277

Name: ______________________________ Date: _______________ Problem?Points Possible?Points Received??1?8 Points? ??2?3 Points? ??3?3 Points???4?2 Points? ??5?2 Points???6?4 Points???7?4 Points???8?4 Points???9?10 Points???10?4 Points???11?3 Points???12?3 Points???Total?50 Points? ?? Problem #1 (8 points) JarJar Company had the following series of transactions: 11/01/11 JarJar Company borrowed $18,000 by issuing a 12%, 1 year note. 12/1/11 JarJar Company borrowed $25,000 by issuing a 8%, 6 month note. 5/1/12 JarJar paid the full payment due of Note 2. 11/01/12 JarJar paid the full payment due of Note 1 Directions: 1) Record all necessary journal entries for JarJar Company for 2011 2) Record all necessary journal entries for JarJar Company for 2012 Explanations are not required. DATE?DESCRIPTION?REF?DEBIT?CREDIT????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? Problem #2 (3 points) Tarheel Services is holding a note receivable from one of its customers and wishes to collect the cash earlier than the maturity date of the note. The note is for $1,000 and carries a rate of 4%. Tarheel sells the note to a bank for $950. Please provide the journal entry which Tarheel makes to record this transaction. (Dates and Explanations are not required.) ?????????? ?? Problem #3 (3 points) Clockwise Services is holding a note receivable from one of its customers and wishes to collect the cash earlier than the maturity date of the note. The note is for $1,000 and carries a rate of 4%. Clockwise sells the note to a bank for $1,080. Please provide the journal entry with Clockwise makes to record this transaction. (Dates and Explanations are not required.) ??This document was truncated here because it was created in the Evaluation Mode.