14A-4. Journalize the following transactions for Carney Company: 201X Apr. Received a $14,000, 90-day, 10% note from Jake Crabill in payment of account past due. 18 May Wrote off the Francis Dema account as uncollectible for $610. (Carney uses the Allow- ance method to record bad debts.) 9 July 17 Jake Crabill paid Carney the note in full. Gave Flower Company an $18,000, 30-day, 5% note as a time extension of account now past due. Nov. . 11 Nov. 15 Francis Dema paid Carney the amount previously written off on May 9. Dec. 3 Discounted its own $6,000, 60-day note at Chesterfield Bank at 9%. Dec. Received a $2,000, 90-day, 5% note dated December 5 from Thomas Haden in payment of account past due. Dec. 11 Paid principal and interest due on note issued to Flower Company from November 11 note. Received a $26,000, 180-day, 12% note from White Company in payment of account past due. Dec. 16
14A-4. Journalize the following transactions for Carney Company: 201X Apr. Received a $14,000, 90-day, 10% note from Jake Crabill in payment of account past due. 18 May Wrote off the Francis Dema account as uncollectible for $610. (Carney uses the Allow- ance method to record bad debts.) 9 July 17 Jake Crabill paid Carney the note in full. Gave Flower Company an $18,000, 30-day, 5% note as a time extension of account now past due. Nov. . 11 Nov. 15 Francis Dema paid Carney the amount previously written off on May 9. Dec. 3 Discounted its own $6,000, 60-day note at Chesterfield Bank at 9%. Dec. Received a $2,000, 90-day, 5% note dated December 5 from Thomas Haden in payment of account past due. Dec. 11 Paid principal and interest due on note issued to Flower Company from November 11 note. Received a $26,000, 180-day, 12% note from White Company in payment of account past due. Dec. 16
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Jurnalize he following transactions
Transcribed Image Text:14A-4. Journalize the following transactions for Carney Company:
201X
Apr.
18
Received a $14,000, 90-day, 10% note from Jake Crabill in payment of account past
due.
May
Wrote off the Francis Dema account as uncollectible for $610. (Carney uses the Allow-
ance method to record bad debts.)
9.
July
17
Jake Crabill paid Carney the note in full.
Gave Flower Company an $18,000, 30-day, 5% note as a time extension of account now
past due.
Nov.
11
Nov.
15
Francis Dema paid Carney the amount previously written off on May 9.
Dec.
3
Discounted its own $6,000, 60-day note at Chesterfield Bank at 9%.
Dec.
Received a $2,000, 90-day, 5% note dated December 5 from Thomas Haden in payment
of account past due.
Dec.
11
Paid principal and interest due on note issued to Flower Company from November 11
note.
Received a $26,000, 180-day, 12% note from White Company in payment of account
past due.
Dec.
16
5.
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