Pina Colada Corp. has the following transactions related to notes receivable during the last 2 months of the year. Loaned $84,600 cash to B. Benson on a 1-year, 8% note. Sold goods to Roswell, Inc., receiving a $15,600, 90-day, 9% note. Received a $27,900, 6-month, 8% note to settle an open account from M. Ling. Accrued interest revenue on all notes receivable. Nov. 1 Dec. 11 16 31 Journalize the transactions for Pina Colada Corp. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Use 360 days for calculation.) Account Titles and Explanation Date Debit Credit T
Pina Colada Corp. has the following transactions related to notes receivable during the last 2 months of the year. Loaned $84,600 cash to B. Benson on a 1-year, 8% note. Sold goods to Roswell, Inc., receiving a $15,600, 90-day, 9% note. Received a $27,900, 6-month, 8% note to settle an open account from M. Ling. Accrued interest revenue on all notes receivable. Nov. 1 Dec. 11 16 31 Journalize the transactions for Pina Colada Corp. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Use 360 days for calculation.) Account Titles and Explanation Date Debit Credit T
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Pina Colada Corp. has the following transactions related to notes receivable during the last 2 months of the year.
Loaned $84,600 cash to B. Benson on a 1-year, 8% note.
Sold goods to Roswell, Inc., receiving a $15,600, 90-day, 9% note.
Received a $27,900, 6-month, 8% note to settle an open account from M. Ling.
Accrued interest revenue on all notes receivable.
Nov. 1
Dec. 11
16
31
Journalize the transactions for Pina Colada Corp. (Credit account titles are automatically indented when the amount is entered.
Do not indent manually. Record journal entries in the order presented in the problem. Use 360 days for calculation.)
Credit
Date
Account Titles and Explanation
Debit
I
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