During Year 1, a company accepts the following notes receivable.1. On April 1, the company provides services to a customer on account. The customer signs a four-month, 9% note for $5,100.2. On June 1, the company lends cash to one of the company's vendors by accepting a six-month, 10% note for $9,100.3. On November 1, the company accepts payment for prior services by having a customer with a past-due account receivable sign athree-month, 8% note for $4,100.Required:Record the acceptance of each of the notes receivable. (If no entry is required for a particular transaction/event, select "No JournalEntry Required" in the first account field.)View transaction listJournal entry worksheet123On April 1, the company provides services to a customer on account. Thecustomer signs a four-month, 9% note for $5,100.Note: Enter debits before credits.DateGeneral JournalDebitCreditApril 01Record entryClear entryView general journal During Year 1, a company accepts the following notes receivable.1. On April 1, the company provides services to a customer on account. The customer signs a four-month, 9% note for $5,10O.2. On June 1, the company lends cash to one of the company's vendors by accepting a six-month, 10% note for $9,100.3. On November 1, the company accepts payment for prior services by having a customer with a past-due account receivable sign athree-month, 8% note for $4,100.Required:Record the acceptance of each of the notes receivable. (If no entry is required for a particular transaction/event, select "No JournalEntry Required" in the first account field.)View transaction listJournal entry worksheet12On June 1, the company lends cash to one of the company's vendors byaccepting a six-month, 10% note for $9,100.Note: Enter debits before credits.DateGeneral JournalDebitCreditJune 01Record entryClear entryView general journal

Journals are the books of primary entries. The business transactions are recorded at the initial…

During Year 1, a company accepts the following notes receivable. 1. On April 1, the company provides services to a customer on account. The customer signs a four-month, 9% note for $5,100. 2. On June 1, the company lends cash to one of the company's vendors by accepting a six-month, 10% note for $9,10O. 3. On November 1, the company accepts payment for prior services by having a customer with a past-due account receivable sign a three-month, 8% note for $4,100. Required: Record the acceptance of each of the notes receivable. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

During Year 1, a company accepts the following notes receivable. 1. On April 1, the company provides services to a customer on account. The customer signs a four-month, 9% note for $5,100. 2. On June 1, the company lends cash to one of the company's vendors by accepting a six-month, 10% note for $9,10O. 3. On November 1, the company accepts payment for prior services by having a customer with a past-due account receivable sign a three-month, 8% note for $4,100. Required: Record the acceptance of each of the notes receivable. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 11RE: On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to...

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