Moses Supply Co. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to accrue interest except at December 31. Nov. 1 Dec. 11 16 Loaned $60,000 cash to C. Bohr on a 12-month, 7% note. Sold goods to K. R. Pine, Inc., receiving a $3,600, 90-day, 8% note. Received a $12,000, 180-day, 9% note to settle an open account from A. Murdock. 31 Accrued interest revenue on all notes receivable Instructions Journalize the transactions for Moses Supply Co. (Omit cost of goods sold entries.)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Moses Supply Co. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Pharmaceutical companies sell some of their products to hospitals and clinics directly. they also market other products to large retail chains like walgreens that distribute them to their stores across the nation.
Answers (1)
Why would we expect a company like intel to report a relatively high proportion of equity vis-à-vis liabilities?:?
Answers (1)
The auditors are concerned that these practices are inadequate and that more secure alternatives should be explored. Management has expressed counter concerns about the high cost of purchasing new equipment and relocating its data center.
Answers (1)
Manny owns 1/4 of the partnership, while Jose has a 1/5 of interest. What fraction of the partnership does todd own?
Answers (2)
Key considerations involved in planning and conducting multinational operations are affected by a. media influence b. financial resource constraints c. non-military organizations d. motives and values of the organization's members
Answers (1)
New Questions in Business
At the time the transaction occurred, which of the following would result in an increase in net income under the accrual basis of accounting, but would not result in an increase in net income under cash basis accounting?
Answers (1)
You've decided to buy a new computer that costs $1,500. But Best Buy will let you take the computer home without making paying the full price immediately. Rather, Best Buy will let you pay $500 now, and $500 at the end of each of the next two years.
Answers (1)
Alice's three children are driving her crazy. they are constantly squabbling, calling one another names, and generally tormenting one another. to preserve what's left of her sanity, alice has decided to try to convince the youngsters to get along.
Answers (1)
Introduction to Early Childhood The National Association for the Education of Young Children (NAEYC) statement of commitment includes all of the following obligations except A. serving as an advocate for children and their families. B.
Answers (1)
James Bright's company seeks markets all over the world and attempts to sell products that are a result of planned production for markets in various countries.
Answers (1)