Record sale of gift cards totaling $8,000. The cards are redeemable for merchandise within one year of the purchase date. Note: Enter debits before credits. Date January 02 General Journal Debit Credit

A $7,000, 4%, 120-day note dated March 20 is discounted on July 15. Assuming a 3% discount rate, the bank discount is:   Multiple Choice   $1.74   $1.77   $93.33   $70.00

Entries for Notes Payable A business issued a 45-day, 6% note for $235,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360-day year. Round your final answers to the nearest dollar. If an amount box does not require an entry, leave it blank. a. b.

< Entries for discounted note payable A business issued a 60-day note for $39,000 to a bank. The note was discounted at 6%. Assume a 360 days in a year. a. Journalize the entry to record the issuance of the note. If an amount box does not require an entry, leave it blank. If necessary, round your answers to one decimal place. 000 000 b. Journalize the entry to record the payment of the note at maturity. If an amount box does not require an entry, leave it blank. E A A

Record the sale by Balus Company of $136,000 in accounts receivable on May 1. Balus is charged a 3.00% factoring fee. View transaction list Journal entry worksheet 1 > Record the sale of receivable. Note: Enter debits before credits. Date General Journal Debit Credit May 01 Record entry Clear entry View general journal

Journalize the following entries on the books of the borrower and creditor.  Label accordingly. (Assume a 360-day year is used for interest calculations.) ​ June    1 James Co. purchased merchandise on account from O’Leary Co., $90,000, terms n/30.  The cost of merchandise sold was $54,000.          30 James Co. issued a 60-day, 5% note for $90,000 on account. Aug. 29 James Co. paid the amount due.

Entries for Notes Payable Laughlin Enterprises issues a $130,000, 45-day, 6% note to Morrison Industries for merchandise inventory. Assume a 360-day year. If an amount box does not require an entry, leave it blank. a.  Journalize Laughlin Enterprises’ entries to record: the issuance of the note. the payment of the note at maturity. 1.   fill in the blank 64677a0a8f9b073_2 fill in the blank 64677a0a8f9b073_3     fill in the blank 64677a0a8f9b073_5 fill in the blank 64677a0a8f9b073_6 2.   fill in the blank 64677a0a8f9b073_8 fill in the blank 64677a0a8f9b073_9     fill in the blank 64677a0a8f9b073_11 fill in the blank 64677a0a8f9b073_12     fill in the blank 64677a0a8f9b073_14 fill in the blank 64677a0a8f9b073_15 b.  Journalize Morrison Industries’ entries to record: the receipt of the note. the receipt of the payment of the note at maturity. 1.   fill in the blank 9616b40e100d004_2 fill in the blank 9616b40e100d004_3     fill in the blank…

The company has an unadjusted debit balance in Accounts Receivable of $25,000 and an unadjusted credit balance of $10 in Allowance for Sales Discounts as of December 31. Of the $25,000 of receivables, $10,000 are within a 2% discount period that the company expects the buyers to take. Note: Enter debits before credits. Date 12/31 General Journal Debit Credit

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Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $110 and the following activity. (Round your answer to the nearest cent.)