Dec. 1 Loaned $18,000 cash to K. Perry on a 1-year, 5% note. 16 31 Sold goods to L. Bryan, receiving a $4,800, 60-day, 7% note. Accrued interest revenue on all notes receivable. ournalize the transactions for Brown Distributors. Omit cost of goods sold entries. (Credit account titles are automatically in when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entr ccount titles and enter O for the amounts.)

Dec. 1 Loaned $18,000 cash to K. Perry on a 1-year, 5% note. 16 31 Sold goods to L. Bryan, receiving a $4,800, 60-day, 7% note. Accrued interest revenue on all notes receivable. ournalize the transactions for Brown Distributors. Omit cost of goods sold entries. (Credit account titles are automatically in when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entr ccount titles and enter O for the amounts.)

Name: Brown Distributors has the following transactions related to notes re
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Description: Brown Distributors has the following transactions related to notes receivable during the last two months of the year.Dec.1Loaned $18,000 cash to K. Perry on a 1-year, 5% note.16Sold goods to L. Bryan, receiving a $4,800, 60-day, 7% note.31Accrued in

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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