Entries for receipt and dishonor of notes receivable ournalize 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. 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 Platt on 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. Mar. 29 Apr. 30 May 28 June 29 0000 000 000 1000

Entries for receipt and dishonor of notes receivable ournalize 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. 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 Platt on 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. Mar. 29 Apr. 30 May 28 June 29 0000 000 000 1000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Can somebody check if this is right it's a hw problem on cengage?
Define Indirect method
What is canonical cover in DBMS?
What are the problems caused by lack of integration? Expalin.
How can thepayback method be useful?
What are some limitations of using the direct write-off method?
Explain high-low method.
Types of gap and give example with interpretation.
Define call option