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The following selected transactions occurred during 2024 and 2025 for Arabian Importers. The company ends its accounting year on April 30. (Click the icon to view the transactions) Journakze all required entries. Make sure to determine the missing maturity date. (Record debits first, then credits. Select the explanation on the last line of the joumal entry table.) PASALAMNU 11 U DI LAU Date Accounts and Explanation 2024 Feb. 1 Note Receivable-Britt Durant Cash Date 2024 Apr. 8 Accepted note in exchange for cash Apr. 0: Sold goods to Putt Masters, receiving a 90-day, 90% note for $0,000. Ignore Cost of Goods Sold Accounts and Explanation Debit Credit pages Note Receivable-Putt Masters Sales Revenue 2024 Jul 5 to search Cash Note Receivable-Putt Masters Interest Revenue Interest Receivable Collected note receivable plus interest Get more help. Debit 11,000 B P 9.000 Credit 218.20 11,000 9.202.60 9,000 Sold goods for a note Apr. 30: Made a single entry to accrue interest revenue on both notes. (Use months for the one-year note interest computation and a 305-day year for the 90 day note interest computation. Round to the nearest cent) Date Accounts and Explanation Debit Credit 2024 Apr 30 Interest Receivable Interest Revenue 218.26 Accrued interest revenue Collected the maturity value of the Putt Masters note. Make sure to determine the missing maturity date (Prepare a single compound joumal entry. Use a 365-day year for this interest computation Round to the nearest cent) Debit Accounts and Explanation Date Credit 9.000.00 148.5 64 More info 5 2024 Feb. 1 Apr. 6 (21) Apr. 30 ? 2025 Feb. 1 CRED S - Loaned $11,000 cash to Britt Durant on a one-year, 6% note Sold goods to Put Masters, receiving a 90-day, 0% note for $9.000. Ignore Cost of Goods Sold Made a single entry to accrue interest revenue on both notes Collected the maturity value of the Putt Masters note Collected the maturity value of the Durant note Print Done - X 54°F

The following selected transactions occurred during 2024 and 2025 for Arabian Importers. The company ends its accounting year on April 30. (Click the icon to view the transactions) Journakze all required entries. Make sure to determine the missing maturity date. (Record debits first, then credits. Select the explanation on the last line of the joumal entry table.) PASALAMNU 11 U DI LAU Date Accounts and Explanation 2024 Feb. 1 Note Receivable-Britt Durant Cash Date 2024 Apr. 8 Accepted note in exchange for cash Apr. 0: Sold goods to Putt Masters, receiving a 90-day, 90% note for $0,000. Ignore Cost of Goods Sold Accounts and Explanation Debit Credit pages Note Receivable-Putt Masters Sales Revenue 2024 Jul 5 to search Cash Note Receivable-Putt Masters Interest Revenue Interest Receivable Collected note receivable plus interest Get more help. Debit 11,000 B P 9.000 Credit 218.20 11,000 9.202.60 9,000 Sold goods for a note Apr. 30: Made a single entry to accrue interest revenue on both notes. (Use months for the one-year note interest computation and a 305-day year for the 90 day note interest computation. Round to the nearest cent) Date Accounts and Explanation Debit Credit 2024 Apr 30 Interest Receivable Interest Revenue 218.26 Accrued interest revenue Collected the maturity value of the Putt Masters note. Make sure to determine the missing maturity date (Prepare a single compound joumal entry. Use a 365-day year for this interest computation Round to the nearest cent) Debit Accounts and Explanation Date Credit 9.000.00 148.5 64 More info 5 2024 Feb. 1 Apr. 6 (21) Apr. 30 ? 2025 Feb. 1 CRED S - Loaned $11,000 cash to Britt Durant on a one-year, 6% note Sold goods to Put Masters, receiving a 90-day, 0% note for $9.000. Ignore Cost of Goods Sold Made a single entry to accrue interest revenue on both notes Collected the maturity value of the Putt Masters note Collected the maturity value of the Durant note Print Done - X 54°F

Intermediate Accounting: Reporting And Analysis
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 9RE: Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for...
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K The following selected transactions occurred during 2024 and 2025 for Arabian Importers. The company ends its accounting year on April 30. (Click the icon to view the transactions.) Journalize all required entries. Make sure to determine the missing maturity date. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) re 1. LUR Date 2024 Feb. 1 DI LAUR, U Accounts and Explanation Etext pages Note Receivable-Britt Durant Cash 2024 Jul 5 Date 2024 Apr. 30 Interest Receivable Interest Revenue Accepted note in exchange for cash Apr. 6: Sold goods to Putt Masters, receiving a 90-day, 9% note for $9,000. Ignore Cost of Goods Sold. Date Accounts and Explanation Debit Credit 2024 Apr. 8 6 Note Receivable-Putt Masters Sales Revenue mere to search Get more help. Debit Cash Note Receivable-Putt Masters Interest Revenue Interest Receivable Collected note receivable plus interest 11,000 21 7 9,000 218.26 Credit 11,000 9.202.50 H 9,000 Sold goods for a note Apr. 30: Made a single entry to accrue interest revenue on both notes. (Use months for the one-year note interest computation and a 365-day year for the 90 day note interest computation. Round to the nearest cent.) Accounts and Explanation Debit Credit 218.26 9,000.00 148.5 64 More info ( 2024 → Accrued interest revenue. Collected the maturity value of the Putt Masters note. Make sure to determine the missing maturity date. (Prepare a single compound joumal entry. Use a 365-day year for this interest computation Round to the nearest cent) Credit Accounts and Explanation Date Debit (21) Feb. 1 Apr. 6 Apr. 30 ? 2025 Feb. 1 (TED 4 Loaned $11,000 cash to Britt Durant on a one-year, 6% note. Sold goods to Putt Masters, receiving a 90-day, 0% note for $9,000. Ignore Cost of Goods Sold. Made a single entry to accrue interest revenue on both notes. Collected the maturity value of the Putt Masters note Collected the maturity value of the Durant note Print Done - X 54°F Clear. 0 Clear all O 4x
Transcribed Image Text:K The following selected transactions occurred during 2024 and 2025 for Arabian Importers. The company ends its accounting year on April 30. (Click the icon to view the transactions.) Journalize all required entries. Make sure to determine the missing maturity date. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) re 1. LUR Date 2024 Feb. 1 DI LAUR, U Accounts and Explanation Etext pages Note Receivable-Britt Durant Cash 2024 Jul 5 Date 2024 Apr. 30 Interest Receivable Interest Revenue Accepted note in exchange for cash Apr. 6: Sold goods to Putt Masters, receiving a 90-day, 9% note for $9,000. Ignore Cost of Goods Sold. Date Accounts and Explanation Debit Credit 2024 Apr. 8 6 Note Receivable-Putt Masters Sales Revenue mere to search Get more help. Debit Cash Note Receivable-Putt Masters Interest Revenue Interest Receivable Collected note receivable plus interest 11,000 21 7 9,000 218.26 Credit 11,000 9.202.50 H 9,000 Sold goods for a note Apr. 30: Made a single entry to accrue interest revenue on both notes. (Use months for the one-year note interest computation and a 365-day year for the 90 day note interest computation. Round to the nearest cent.) Accounts and Explanation Debit Credit 218.26 9,000.00 148.5 64 More info ( 2024 → Accrued interest revenue. Collected the maturity value of the Putt Masters note. Make sure to determine the missing maturity date. (Prepare a single compound joumal entry. Use a 365-day year for this interest computation Round to the nearest cent) Credit Accounts and Explanation Date Debit (21) Feb. 1 Apr. 6 Apr. 30 ? 2025 Feb. 1 (TED 4 Loaned $11,000 cash to Britt Durant on a one-year, 6% note. Sold goods to Putt Masters, receiving a 90-day, 0% note for $9,000. Ignore Cost of Goods Sold. Made a single entry to accrue interest revenue on both notes. Collected the maturity value of the Putt Masters note Collected the maturity value of the Durant note Print Done - X 54°F Clear. 0 Clear all O 4x
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