I am having trouble with questions number 3. I'm not sure if this other page will help or not. 3. Pedroni Enterprises issues a $260,000, 45 day 5 % note to Zorzi Industries for merchandiseinventorya. Journalize Pedroni Enterprises entries to record:1. The issuance of the note2. The payment of the note at maturityb. Journalize Zorzi Industries entries to record:1. The receipt of the note2. Receipt of the payment of the note at maturity Pedroni Fuel CompanyUnadjusted Trial BalanceOctober 31, 2019Debit7,50038,4007,2001,980112,500300,250CreditCashAccounts ReceivablePrepaid InsuranceSuppliesLandBuildingAccumulated Depreciation - BuildingEquipmentAccumulated Depreciation - EquipmentAccounts PayableUnearned RentRay Zorzi - CapitalRay Zorzi - DrawingFee's EarnedSalary & Wages ExpenseUtilities ExpenseAdvertising ExpenseRepairs ExpenseMiscell aneous Expense87,550135,30097,95012,1506,750371,00015,000324,600193,37042,37522,80017,2506,075900,000Total900,000

The journal entries are prepared to keep the record of day to day transactions of the business.

3. Pedroni Enterprises issues a $260,000, 45 day 5 % note to Zorzi Industries for merchandise inventory a. Journalize Pedroni Enterprises entries to record: 1. The issuance of the note 2. The payment of the note at maturity b. Journalize Zorzi Industries entries to record: 1. The receipt of the note 2. Receipt of the payment of the note at maturity

3. Pedroni Enterprises issues a $260,000, 45 day 5 % note to Zorzi Industries for merchandise inventory a. Journalize Pedroni Enterprises entries to record: 1. The issuance of the note 2. The payment of the note at maturity b. Journalize Zorzi Industries entries to record: 1. The receipt of the note 2. Receipt of the payment of the note at maturity

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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