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Blue Supply Co. has the following transactions related to notes receivable during the last 2 months of 2022. Nov. 1 Loaned $24,000 cash to Soozie Takham on a 1-year, 10% note. Dec. 11 Sold goods to Joe Trater, Inc., receiving a $10,800, 90-day, 8% note. Dec. 16 Dec. 31 Received a $7,200, 6-month, 9% note in exchange for Boba Fett's outstanding accounts receivable. Accrued interest revenue on all notes receivable. (a) Journalize the above transactions for Blue Supply Co. Omit cost of goods sold entries. (Round interest revenue to O decimal place, e.g. 591. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Use 360 days for calculation.) Date Account Titles and Explanation 2022 Debit Credit

Blue Supply Co. has the following transactions related to notes receivable during the last 2 months of 2022. Nov. 1 Loaned $24,000 cash to Soozie Takham on a 1-year, 10% note. Dec. 11 Sold goods to Joe Trater, Inc., receiving a $10,800, 90-day, 8% note. Dec. 16 Dec. 31 Received a $7,200, 6-month, 9% note in exchange for Boba Fett's outstanding accounts receivable. Accrued interest revenue on all notes receivable. (a) Journalize the above transactions for Blue Supply Co. Omit cost of goods sold entries. (Round interest revenue to O decimal place, e.g. 591. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Use 360 days for calculation.) Date Account Titles and Explanation 2022 Debit Credit

FINANCIAL ACCOUNTING
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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Blue Supply Co. has the following transactions related to notes receivable during the last 2 months of 2022. Nov. 1 Loaned $24,000 cash to Soozie Takham on a 1-year, 10% note. Dec. 11 Sold goods to Joe Trater, Inc., receiving a $10,800, 90-day, 8% note. Dec. 16 Dec. 31 Received a $7,200, 6-month, 9% note in exchange for Boba Fett's outstanding accounts receivable. Accrued interest revenue on all notes receivable. 이 Journalize the above transactions for Blue Supply Co. Omit cost of goods sold entries. (Round interest revenue to O decimal place, e.g. 591. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Use 360 days for calculation.) Date Account Titles and Explanation 2022 eTextbook and Media Debit Credit
Transcribed Image Text:Blue Supply Co. has the following transactions related to notes receivable during the last 2 months of 2022. Nov. 1 Loaned $24,000 cash to Soozie Takham on a 1-year, 10% note. Dec. 11 Sold goods to Joe Trater, Inc., receiving a $10,800, 90-day, 8% note. Dec. 16 Dec. 31 Received a $7,200, 6-month, 9% note in exchange for Boba Fett's outstanding accounts receivable. Accrued interest revenue on all notes receivable. 이 Journalize the above transactions for Blue Supply Co. Omit cost of goods sold entries. (Round interest revenue to O decimal place, e.g. 591. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Use 360 days for calculation.) Date Account Titles and Explanation 2022 eTextbook and Media Debit Credit
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