Journalize the following assuming a 360-day year is used for interest computations using the chart of accounts below. Apr. 30 June 30 Paid Misner Co. the amount owed on the noted dated April 30. Accounts Payable Accounts Payable-Misner Co. Accounts Receivable Issued a $504,000, 60-day, 796 note dated April 30 to Misner Co. on account. Accounts Receivable-Misner Co. Cash Interest Expense Interest Payable Notes Payable-Misner Co. Notes Receivable-Misner Co. nter your answers into the table below. ey the account names carefully (exactly as shown above) and follow formatting instructions below. O NOT USE A DECIMAL WITH ZEROES FOR WHOLE DOLLAR AMOUNTS AND USE COMMAS APPROPRIATELY. HEN THE DEBIT/CREDIT DOES NOT REQUIRE AN ENTRY, LEAVE IT BLANK. equired, round your answers to two decimal places. Date Account Debit Credit r. 30 30

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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QUESTION3
Journalize the following assuming a 360-day year is used for interest computations using the chart of accounts below.
Apr. 30
June 30
Issued a $504,000, 60-day, 796 note dated April 30 to Misner Co. on account.
Paid Misner Co. the amount owed on the noted dated April 30.
Accounts Payable
Accounts Payable-Misner Co.
Accounts Receivable
Accounts Receivable-Misner Co.
Cash
Interest Payable
Notes Payable-Misner Co.
Notes Receivable-Misner Co.
Interest Expense
nter your answers into the table below.
ey the account names carefully (exactly as shown above) and follow formatting instructions below.
ONOT USEA DECIMAL WITH ZEROES FOR WHOLE DOLLAR AMOUNTS AND USE COMMAS APPROPRIATELY.
HEN THE DEBIT/CREDIT DOES NOT REQUIRE AN ENTRY, LEAVE IT BLANK.
equired, round your answers to two decimal places.
Date
Account
Debit
Credit
r. 30
30
Transcribed Image Text:QUESTION3 Journalize the following assuming a 360-day year is used for interest computations using the chart of accounts below. Apr. 30 June 30 Issued a $504,000, 60-day, 796 note dated April 30 to Misner Co. on account. Paid Misner Co. the amount owed on the noted dated April 30. Accounts Payable Accounts Payable-Misner Co. Accounts Receivable Accounts Receivable-Misner Co. Cash Interest Payable Notes Payable-Misner Co. Notes Receivable-Misner Co. Interest Expense nter your answers into the table below. ey the account names carefully (exactly as shown above) and follow formatting instructions below. ONOT USEA DECIMAL WITH ZEROES FOR WHOLE DOLLAR AMOUNTS AND USE COMMAS APPROPRIATELY. HEN THE DEBIT/CREDIT DOES NOT REQUIRE AN ENTRY, LEAVE IT BLANK. equired, round your answers to two decimal places. Date Account Debit Credit r. 30 30
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