Journalining note receivable transactions
The following selected transactions occurred during...
Mathematics, 01.04.2020 05:57 emmarieasimon
Journalining note receivable transactions
The following selected transactions occurred during 2018 and 2019 for Baltic Importers. The
company ends its accounting year on September 30.
2018
Jul i Loaned $16,000 cash to Bud Shine on a one year, 896 note.
Sep. Sold goods to Lawn Pro, receiving a 90-day, 6% note for
$11,000. Ignore Cost of Goods Sold
Made a single entry to accrue interest revenue on both notes
Collected the maturity value of the Lawn Pro note.
2019
Jul 1 Collected the maturity value of the Shyne note.
Journalize all required entries. Make sure to determine the missing maturity date. Round to the
nearest dollar
Answers: 3
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