еВookEPrint ItemDec. 31, 2019 Telesco records interest accumulated for 2019.Dec. 31, 2020 Abe Willis honors the note and pays in full with cash.If an amount box does not require an entry, leave it blank.88Jan. 1, 2018To record sale in exchange forNotes Receivable: Willis, 36-month maturity, 8% interest rateJan. 1, 2018To record the cost of saleDec. 31, 2018To record interest accumulated in 2018Dec. 31, 2019To record interest accumulated in 2019Dec. 31, 2020To record collection of principaland accumulated interest еВookPrint ItemRecord journal entries for the following transactions of Telesco Enterprises.Jan. 1, 2018Issued a $331,700 note to customer Abe Willis as terms of a merchandise sale. The merchandise's cost to Telesco is $125,900.Note contract terms included a 36-month maturity date, and a 8% annual interest rate.Dec. 31, 2018 Telesco records interest accumulated for 2018.Dec. 31, 2019 Telesco records interest accumulated for 2019.Dec. 31, 2020 Abe Willis honors the note and pays in full with cash.If an amount box does not require an entry, leave it blank.Jan. 1, 2018To record sale in exchange forNotes Receivable: Willis, 36-month maturity, 8% interest rateJan. 1, 2018To record the cost of saleDec. 31, 2018To record interest accumulated in 201888Dec. 31, 2019To record interest accumulated in 2019Dec. 31, 2020Previous

The transactions for the year ended 31st December 2018 were given. Required Pass the journal…

eBook Print Item Dec. 31, 2019 Telesco records interest accumulated for 2019. Dec. 31, 2020 Abe Willis honors the note and pays in full with cash. If an amount box does not require an entry, leave it blank. 88 Jan. 1, 2018 To record sale in exchange for Notes Receivable: Willis, 36-month maturity, 8% interest rate Jan. 1, 2018 To record the cost of sale Dec. 31, 2018 To record interest accumulated in 2018 Dec. 31, 2019 To record interest accumulated in 2019 Dec. 31, 2020 To record collection of principal and accumulated interest

eBook Print Item Dec. 31, 2019 Telesco records interest accumulated for 2019. Dec. 31, 2020 Abe Willis honors the note and pays in full with cash. If an amount box does not require an entry, leave it blank. 88 Jan. 1, 2018 To record sale in exchange for Notes Receivable: Willis, 36-month maturity, 8% interest rate Jan. 1, 2018 To record the cost of sale Dec. 31, 2018 To record interest accumulated in 2018 Dec. 31, 2019 To record interest accumulated in 2019 Dec. 31, 2020 To record collection of principal and accumulated interest

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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