Journalize the following transactions: i. ii. iii. iv. V. vi. February 1. Signed a 60-day, 10% note, $5,000.00. R80. April 2. Paid cash for the maturity value of the Feb. 1 note: principal, $5,000.00, plus interest, $83.33. C215. April 20. Received cash for the maturity value of Notes Receivable No. 34: principal $500.00, plus interest, $45.00. R78. June 1. Signed a 90-day, 18% note to True North Toilets Corp. for an extension of time on this account payable, $2,500.00. M44. December 15. The board of directors declared a dividend of $5.00 per share; capital stock issued is 3,000 shares. M234. December 31. Paid cash for dividend declared December 15. C345.

Journalize the following transactions: i. ii. iii. iv. V. vi. February 1. Signed a 60-day, 10% note, $5,000.00. R80. April 2. Paid cash for the maturity value of the Feb. 1 note: principal, $5,000.00, plus interest, $83.33. C215. April 20. Received cash for the maturity value of Notes Receivable No. 34: principal $500.00, plus interest, $45.00. R78. June 1. Signed a 90-day, 18% note to True North Toilets Corp. for an extension of time on this account payable, $2,500.00. M44. December 15. The board of directors declared a dividend of $5.00 per share; capital stock issued is 3,000 shares. M234. December 31. Paid cash for dividend declared December 15. C345.

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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