Entries for receipt and dishonor of notes receivable Journalize the following transactions in the accounts of Missouri Gaming Co., which operates a riverboat casino. Assume 360 days in a year. If an amount box doe require an entry, leave it blank. When required, round your final answers to the two decimal places. March 29 Received a $14,400, 60-day, 8 % note dated March 29 from Karie Platt on account. April 30. Received a $19,500, 60-day, 10% note dated April 30 from Jon Kelly on account. May 28. The note dated March 29 from Karie Platt is dishonored, and the customer's account is charged for the note, including interest. June 29. The note dated April 30 from Jon Kelly is dishonored, and the customer's account is charged for the note, including interest. August 26. Cash is received for the amount due on the dishonored note dated March 29 plus interest for 90 days at 12% on the total amount debited to Karie P May 28. Wrote off against the allowance account the amount charged to Jon Kelly on June 29 for the dishonored note dated April 30. October 22.

Entries for receipt and dishonor of notes receivable Journalize the following transactions in the accounts of Missouri Gaming Co., which operates a riverboat casino. Assume 360 days in a year. If an amount box doe require an entry, leave it blank. When required, round your final answers to the two decimal places. March 29 Received a $14,400, 60-day, 8 % note dated March 29 from Karie Platt on account. April 30. Received a $19,500, 60-day, 10% note dated April 30 from Jon Kelly on account. May 28. The note dated March 29 from Karie Platt is dishonored, and the customer's account is charged for the note, including interest. June 29. The note dated April 30 from Jon Kelly is dishonored, and the customer's account is charged for the note, including interest. August 26. Cash is received for the amount due on the dishonored note dated March 29 plus interest for 90 days at 12% on the total amount debited to Karie P May 28. Wrote off against the allowance account the amount charged to Jon Kelly on June 29 for the dishonored note dated April 30. October 22.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Entries for Receipt and Dishonor of Notes Receivable Journalize the following transactions in the accounts of Missouri Gaming Co., which operates a riverboat casino. Assume 360 days in a year. If an amount box does not require an entry, leave it blank. Round final answers to the nearest cent when necessary. Mar. 29. Received a $14,400, 60-day, 8% note dated March 29 from Karie Platt on account. Apr. 30. Received a $30,600, 60-day, 6% note dated April 30 from Jon Kelly on account. May 28. The note dated March 29 from Karie Platt is dishonored, and the customer's account is charged for the note, including interest. June 29. The note dated April 30 from Jon Kelly is dishonored, and the customer's account is charged for the note, including interest. Aug. 26. Cash is received for the amount due on the dishonored note dated March 29 plus interest for 90 days at 12% on the total amount debited to Karie Platt on May 28. Oct. 22. Wrote off against the allowance account the amount charged to Jon…
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Entries for receipt and dishonor of notes receivable Journalize the following transactions in the accounts of Missouri Gaming Co., which operates a riverboat casino. Assume 360 days in a year. If an amount box does not require an entry, leave it blank. When required, round your final answers to the two decimal places. Date Transaction March 29 Received a $50,400, 60-day, 8% note dated March 29 from Karie Platt on account. April 30. Received a $35,400, 60-day, 10% note dated April 30 from Jon Kelly on account. May 28. The note dated March 29 from Karie Platt is dishonored, and the customer's account is charged for the note, including interest. June 29. The note dated April 30 from Jon Kelly is dishonored, and the customer's account is charged for the note, including interest. August 26. Cash is received for the amount due on the dishonored note dated March 29 plus interest for 90 days at 12% on the total amount debited to Karie Platt on May 28. October 22. Wrote off…
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