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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I am having trouble with questions number 3. I'm not sure if this other page will help or not.
Transcribed Image Text: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
Transcribed Image Text:Pedroni Fuel Company
Unadjusted Trial Balance
October 31, 2019
Debit
7,500
38,400
7,200
1,980
112,500
300,250
Credit
Cash
Accounts Receivable
Prepaid Insurance
Supplies
Land
Building
Accumulated Depreciation - Building
Equipment
Accumulated Depreciation - Equipment
Accounts Payable
Unearned Rent
Ray Zorzi - Capital
Ray Zorzi - Drawing
Fee's Earned
Salary & Wages Expense
Utilities Expense
Advertising Expense
Repairs Expense
Miscell aneous Expense
87,550
135,300
97,950
12,150
6,750
371,000
15,000
324,600
193,370
42,375
22,800
17,250
6,075
900,000
Total
900,000
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