Instructions The following were selected from among the transactions completed by Caldemeyer Co. during the current year Caldemeyer Co sells and installs home and buciness security systems. Jan. 3. Loaned $13,200 cash lo Trina Gelhaus, receiving a 90-day, 8% note. Feb. 10 Sold merchandise on account to Bradford & Co., $27,600 The cost of the merchandise sold was $16,560. 13. Sold merchandise on account to Dry Creek Co $62 400 The cost of merchandise sold was $56, 160. Mar 12 Accepted a 60-day, 6% note for $27,600 from Bradford & Co on account 14 Accepted a 60-day, 9% note for $62 400 from Dry Creek Co on account. Apr. 3. Received the interest due from Trina Gelhaus and a new 120-day, 10% note as a renewal of the loan of January 3. (Record both the debit and the credit to the notes receivable account Use a compound journal entry with debits before credits) Previou Check My Work i more Check My Work user remaining please help me journalize this and only using these numbers. 2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker-&etakeAssignmentSessionL.ocator-&inpro. * * eBook Calculator Print Item Sales and notes receivable transactions Chart of Accounts Journal Instructions Mar. 12 Accepted a 00-day, 6% note for $27,600 trom Bradford & Co, on account 14. Accepted a 60-day, 9% note for $62,400 from Dry Creek Co. on account. Apr. 3. Received the interest due from Trina Gelhaus and a new 120-day, 10% note as a renewal of the loan of January 3. (Record both the debit and the credt to the notes receivable account Use a compound journal entry with debits before credits.) May 11. Received from Bradford & Co. the amount due on the note of March 12. 13 Dry Creek Co. dishonored its note dated March 14 July 12 Received from Dry Creek Co. the amount owed on the dishonored note, plus interest for 60 days at 12% computed on the maturity value of the note Aug 1 Received from Trina Gelhaus the amount due on her note of April 3. $8,940. Oct 5 Sold merchandise on account to Halloran Co. $14.900 The cost of the merchandise soid 15 Received from Haloran Co the amount of the invoice of October 5. Required: Journalize the entries to record the transactions Refer to the Chart of Accounte for exact wording of account tnes. A0ume a 360-day year when caiculating interest
Instructions The following were selected from among the transactions completed by Caldemeyer Co. during the current year Caldemeyer Co sells and installs home and buciness security systems. Jan. 3. Loaned $13,200 cash lo Trina Gelhaus, receiving a 90-day, 8% note. Feb. 10 Sold merchandise on account to Bradford & Co., $27,600 The cost of the merchandise sold was $16,560. 13. Sold merchandise on account to Dry Creek Co $62 400 The cost of merchandise sold was $56, 160. Mar 12 Accepted a 60-day, 6% note for $27,600 from Bradford & Co on account 14 Accepted a 60-day, 9% note for $62 400 from Dry Creek Co on account. Apr. 3. Received the interest due from Trina Gelhaus and a new 120-day, 10% note as a renewal of the loan of January 3. (Record both the debit and the credit to the notes receivable account Use a compound journal entry with debits before credits) Previou Check My Work i more Check My Work user remaining please help me journalize this and only using these numbers. 2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker-&etakeAssignmentSessionL.ocator-&inpro. * * eBook Calculator Print Item Sales and notes receivable transactions Chart of Accounts Journal Instructions Mar. 12 Accepted a 00-day, 6% note for $27,600 trom Bradford & Co, on account 14. Accepted a 60-day, 9% note for $62,400 from Dry Creek Co. on account. Apr. 3. Received the interest due from Trina Gelhaus and a new 120-day, 10% note as a renewal of the loan of January 3. (Record both the debit and the credt to the notes receivable account Use a compound journal entry with debits before credits.) May 11. Received from Bradford & Co. the amount due on the note of March 12. 13 Dry Creek Co. dishonored its note dated March 14 July 12 Received from Dry Creek Co. the amount owed on the dishonored note, plus interest for 60 days at 12% computed on the maturity value of the note Aug 1 Received from Trina Gelhaus the amount due on her note of April 3. $8,940. Oct 5 Sold merchandise on account to Halloran Co. $14.900 The cost of the merchandise soid 15 Received from Haloran Co the amount of the invoice of October 5. Required: Journalize the entries to record the transactions Refer to the Chart of Accounte for exact wording of account tnes. A0ume a 360-day year when caiculating interest
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please help me using only these numbers and create a journal
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 3 images
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.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education