Feb. 2, 2024 Recorded credit sales of $110,000. Ignore Cost of Goods Sold Date Accounts and Explanation Debit Credit 2024 Feb. 2 More info Nov. 1, 2024. Loaned $18.000 to Tess Parker, an executive with the company, on a one-year, 7% note 2024 Date Accounts and Explanation Debit Credit Feb. 2 Recorded credit sales of $110,000. Ignore Cost of Goods Sold. 2024 Nov. 1 Loaned $18,000 to Tess Parker, an executive with the company, on a one-year, 7% note Nov. 1 Dec. 31 Accrued interest revenue on the Parker note 2025 Nov. 1 Collected the maturity value of the Parker note Dec. 31, 2024 Accrued interest revenue on the Parker note Print Done Date Accounts and Explanation Debit Credit 2024 Dec. 31

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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Flash Running Shoes reports the following:
(Click the icon to view the information.)
Journalize all entries required for Flash Running Shoes. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)
Feb. 2, 2024: Recorded credit sales of $110,000. Ignore Cost of Goods Sold.
Date
Accounts and Explanation
Debit
Credit
2024
Feb. 2
More info
Nov. 1, 2024: Loaned $18,000 to Tess Parker, an executive with the company, on a one-year, 7% note.
2024
Date
Accounts and Explanation
Debit
Credit
Feb. 2
Recorded credit sales of $110,000. Ignore Cost of Goods Sold.
2024
Nov. 1
Loaned $18,000 to Tess Parker, an executive with the company, on a one-year, 7% note.
Nov. 1
Dec. 31
Accrued interest revenue on the Parker note.
2025
Nov. 1
Collected the maturity value of the Parker note.
Dec. 31, 2024: Accrued interest revenue on the Parker note.
Print
Done
Date
Accounts and Explanation
Debit
Credit
2024
Dec. 31
Nov. 1, 2025: Collected the maturity value of the Parker note. (Prepare a single compound journal entry.)
Date
Accounts and Explanation
Debit
Credit
2025
Nov. 1
Transcribed Image Text:Flash Running Shoes reports the following: (Click the icon to view the information.) Journalize all entries required for Flash Running Shoes. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Feb. 2, 2024: Recorded credit sales of $110,000. Ignore Cost of Goods Sold. Date Accounts and Explanation Debit Credit 2024 Feb. 2 More info Nov. 1, 2024: Loaned $18,000 to Tess Parker, an executive with the company, on a one-year, 7% note. 2024 Date Accounts and Explanation Debit Credit Feb. 2 Recorded credit sales of $110,000. Ignore Cost of Goods Sold. 2024 Nov. 1 Loaned $18,000 to Tess Parker, an executive with the company, on a one-year, 7% note. Nov. 1 Dec. 31 Accrued interest revenue on the Parker note. 2025 Nov. 1 Collected the maturity value of the Parker note. Dec. 31, 2024: Accrued interest revenue on the Parker note. Print Done Date Accounts and Explanation Debit Credit 2024 Dec. 31 Nov. 1, 2025: Collected the maturity value of the Parker note. (Prepare a single compound journal entry.) Date Accounts and Explanation Debit Credit 2025 Nov. 1
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