Journalize the following entries on the books of Winston Co. for August 1, September 1, and November 30. (Assume a 360-day year is used for interest calculations.) Aug. 1 Winston Co. purchased merchandise for $75,000 on account from Bagley Co., terms n/30. Sept. 1 Winston Co. issued a 90-day, 6% note for $75,000 on account. Nov. 30 Winston Co, paid the amount due. If an amount box does not require an entry, leave it blank. Aug. 1 If an amount box does not require an entry, leave it blank. Sept. 1 If an amount box does not require an entry, leave it blank. Nov. 30
Journalize the following entries on the books of Winston Co. for August 1, September 1, and November 30. (Assume a 360-day year is used for interest calculations.) Aug. 1 Winston Co. purchased merchandise for $75,000 on account from Bagley Co., terms n/30. Sept. 1 Winston Co. issued a 90-day, 6% note for $75,000 on account. Nov. 30 Winston Co, paid the amount due. If an amount box does not require an entry, leave it blank. Aug. 1 If an amount box does not require an entry, leave it blank. Sept. 1 If an amount box does not require an entry, leave it blank. Nov. 30
Chapter18: The Management Of Accounts Receivable And Inventories
Section: Chapter Questions
Problem 9P
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