Entries for Receipt and Dishonor of Notes Receivable Journalize the following transactions in the accounts of Safari Games Co., which operates a riverboat casino. Assume 360 days in a year. For a compound transaction, if an amount box does not require an entry, leave it blank. Round final answers to the nearest cent when necessary. Apr. 18. Received a $43,200, 60-day, 7% note dated April 18 from Glenn Cross on account. 30. Received a $14,400, 60-day, 10% note dated April 30 from Rhoni Melville on account. May 18. The note dated April 18 from Glenn Cross is dishonored, and the customer’s account is charged for the note, including interest. June 29. The note dated April 30 from Rhoni Melville is dishonored, and the customer’s account is charged for the note, including interest. Aug. 16. Cash is received for the amount due on the dishonored note dated April 18 plus interest for 90 days at 6% on the total amount debited to Glenn Cross on May 18. Oct. 22. Wrote off against the allowance account the amount charged to Rhoni Melville on June 29 for the dishonored note dated April 30. Apr. 18 fill in the blank 2 fill in the blank 4 Apr. 30 fill in the blank 6 fill in the blank 8 May 18 fill in the blank 10 fill in the blank 11 fill in the blank 13 fill in the blank 14 fill in the blank 16 fill in the blank 17 June 29 fill in the blank 19 fill in the blank 20 fill in the blank 22 fill in the blank 23 fill in the blank 25 fill in the blank 26 Aug. 16 fill in the blank 28 fill in the blank 29 fill in the blank 31 fill in the blank 32 fill in the blank 34 fill in the blank 35 Oct. 22 fill in the blank 37 fill in the blank 39

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

Entries for Receipt and Dishonor of Notes Receivable

Journalize the following transactions in the accounts of Safari Games Co., which operates a riverboat casino. Assume 360 days in a year. For a compound transaction, if an amount box does not require an entry, leave it blank. Round final answers to the nearest cent when necessary.

Apr. 18.	Received a $43,200, 60-day, 7% note dated April 18 from Glenn Cross on account.
30.	Received a $14,400, 60-day, 10% note dated April 30 from Rhoni Melville on account.
May 18.	The note dated April 18 from Glenn Cross is dishonored, and the customer’s account is charged for the note, including interest.
June 29.	The note dated April 30 from Rhoni Melville is dishonored, and the customer’s account is charged for the note, including interest.
Aug. 16.	Cash is received for the amount due on the dishonored note dated April 18 plus interest for 90 days at 6% on the total amount debited to Glenn Cross on May 18.
Oct. 22.	Wrote off against the allowance account the amount charged to Rhoni Melville on June 29 for the dishonored note dated April 30.

Apr. 18	fill in the blank 2
		fill in the blank 4
Apr. 30	fill in the blank 6
		fill in the blank 8
May 18	fill in the blank 10	fill in the blank 11
	fill in the blank 13	fill in the blank 14
	fill in the blank 16	fill in the blank 17
June 29	fill in the blank 19	fill in the blank 20
	fill in the blank 22	fill in the blank 23
	fill in the blank 25	fill in the blank 26
Aug. 16	fill in the blank 28	fill in the blank 29
	fill in the blank 31	fill in the blank 32
	fill in the blank 34	fill in the blank 35
Oct. 22	fill in the blank 37
		fill in the blank 39

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions