Journalize the following transactions in the accounts of Missouri Gaming Co., which operates a riverboat casino.Assume 360 days in a year. March 29 Received a $57,600, 60-day, 8% note dated March 29 from Karie Platt on account.April 30. Received a $43,200, 60-day, 10% note dated April 30 from Jon Kelly on account.May 28. The note dated March 29 from Karie Platt is dishonored, and the customer's account is charged forthe note, including interest.June 29. The note dated April 30 from Jon Kelly is dishonored, and the customer's account is charged for thenote, including interest.August Cash is received for the amount due on the dishonored note dated March 29 plus interest for 90 days26. at 12% on the total amount debited to Karie Platt on May 28.October Wrote off against the allowance account the amount charged to Jon Kelly on June 29 for the22. dishonored note dated April 30. March 29th __________ _ _ ________ _ _ Apr 30 ________ _ _ ________ _ _ May 28 ________ _ _ ________ _ _ ________ _ _ Jun 29 ________ _ _ ________ _ _ ________ _ _ Aug 26 ________ _ _ ________ _ _ ________ _ _ Oct 22 ________ _ _ ________ _ ___

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 11RE: On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to...

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Question

Journalize the following transactions in the accounts of Missouri Gaming Co., which operates a riverboat casino.
Assume 360 days in a year.
March 29 Received a $57,600, 60-day, 8% note dated March 29 from Karie Platt on account.
April 30. Received a $43,200, 60-day, 10% note dated April 30 from Jon Kelly on account.
May 28. The note dated March 29 from Karie Platt is dishonored, and the customer's account is charged for
the note, including interest.
June 29. The note dated April 30 from Jon Kelly is dishonored, and the customer's account is charged for the
note, including interest.
August Cash is received for the amount due on the dishonored note dated March 29 plus interest for 90 days
26. at 12% on the total amount debited to Karie Platt on May 28.
October Wrote off against the allowance account the amount charged to Jon Kelly on June 29 for the
22. dishonored note dated April 30.

March 29th

____________ _____ _____

Apr 30

____________ _____ _____

May 28

____________ _____ _____

Jun 29

____________ _____ _____

Aug 26

____________ _____ _____

Oct 22

____________ _____ _____