20Y7 Dec. 7. Received from Unitarian Clothing and Bags Co., on account, a $60,000, 60-day, 7% note dated December 7. Dec. 31. Recorded an adjusting entry for acorued interest on the note of December 7. Dec. 31. Recorded the dosing entry for interest revenue. 20Y8 Feb. 5. Received payment of note and interest from Unitarian Clothing & Bags Co. Journalize the entries to record the transactions. Assume 360 days in a year. If an amount box does not require an entry, leave t biank. Assume February has 28 days in 2018 tf required, round the interest to the nearest cent. 20Y7, Dec. 7 Dec. 31 Dec. 31 20Y8, Feb. 5

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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E Read
Print tem
The Totownrty Sectedtransacoon were compiteted by Tneriddong DeVices Co., a supper or zppars Tor cdo
20Y7
Dec. 7.
Received from Unitarian Clothing and Bags Co., on account, a $60,000, 60-day, 79% note dated December 7.
Dec. 31.
Recorded an adjusting entry for accrued interest on the note of December 7.
Dec. 31.
Recorded the cosing entry for interest revenue.
20Y8
Feb. 5.
Received payment of note and interest from Unitarian Clothing & Bags Co.
Journalize the entries to record the transactions. Assume 360 days in a year. If an amount box does not require an entry, leave it blank. Assume February has 28 days in
2018
If required, round the interest to the nearest cent.
20Y7, Dec. 7
Dec. 31
Dec. 31
20Y8, Feb. 5
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Check My Work 5 moro Check My Work uses remaining
Transcribed Image Text:E Read Print tem The Totownrty Sectedtransacoon were compiteted by Tneriddong DeVices Co., a supper or zppars Tor cdo 20Y7 Dec. 7. Received from Unitarian Clothing and Bags Co., on account, a $60,000, 60-day, 79% note dated December 7. Dec. 31. Recorded an adjusting entry for accrued interest on the note of December 7. Dec. 31. Recorded the cosing entry for interest revenue. 20Y8 Feb. 5. Received payment of note and interest from Unitarian Clothing & Bags Co. Journalize the entries to record the transactions. Assume 360 days in a year. If an amount box does not require an entry, leave it blank. Assume February has 28 days in 2018 If required, round the interest to the nearest cent. 20Y7, Dec. 7 Dec. 31 Dec. 31 20Y8, Feb. 5 Previous Next Check My Work 5 moro Check My Work uses remaining
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