Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360 days.) (Omit cost of goods sold entries.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Account Titles and Explanation Date July 5 July 14 July 20 July 24 July 31 V Accounts Receivable Sales Revenue Cash Service Charge Expense Sales Revenue Cash Notes Receivable Interest Revenue Cash Notes Receivable Interest Revenue Interest Receivable Debit 4.140 400 4,080 7,848 90 Credit
Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360 days.) (Omit cost of goods sold entries.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Account Titles and Explanation Date July 5 July 14 July 20 July 24 July 31 V Accounts Receivable Sales Revenue Cash Service Charge Expense Sales Revenue Cash Notes Receivable Interest Revenue Cash Notes Receivable Interest Revenue Interest Receivable Debit 4.140 400 4,080 7,848 90 Credit
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 14RE: On June 1, Phillips Corporation sold, with recourse, a note receivable from a customer to a bank....
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Date
July 5
July 14
+
July 20
July 24
July 31
Q Search
Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360
days.) (Omit cost of goods sold entries.) (List all debit entries before credit entries. Credit account titles are automatically indented when
amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No
Entry" for the account titles and enter O for the amounts.)
Account Titles and Explanation
Accounts Receivable
Sales Revenue
↓
Cash
Service Charge Expense
Sales Revenue
Cash
Search the web
Notes Receivable
Interest Revenue
Cash
Notes Receivable
Interest Revenue
Booking.com
Interest Receivable
A Pla
WP VI WP W R
hp
Dashboard | Khan A...
Debit
4,140
400
4,080
7,848
%
12 Q Ne Ne Q NEQNE Q NE
90
1 OneLogin
4.52/20
C Infinite Campus one login
Credit
1
prt sc](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa7967b52-7f4c-4439-8a86-e97f68320435%2F66d47f01-b724-4917-b5c5-2a16eabe7622%2F17rmx3_processed.jpeg&w=3840&q=75)
Transcribed Image Text:O
in
(6) GS
(6)
B CAN C
▬
WP Ch WP X A Pla WP Vi A Pla A Pla WP Vi
Question 14 of 14 <
v2/assessment-player/index.html?launchid=e9922568-d715-4adf-8fed-45492d24d40b#/question/13
DZL Homepage - Georg... G Google G photopea.com - Go..
Date
July 5
July 14
+
July 20
July 24
July 31
Q Search
Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360
days.) (Omit cost of goods sold entries.) (List all debit entries before credit entries. Credit account titles are automatically indented when
amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No
Entry" for the account titles and enter O for the amounts.)
Account Titles and Explanation
Accounts Receivable
Sales Revenue
↓
Cash
Service Charge Expense
Sales Revenue
Cash
Search the web
Notes Receivable
Interest Revenue
Cash
Notes Receivable
Interest Revenue
Booking.com
Interest Receivable
A Pla
WP VI WP W R
hp
Dashboard | Khan A...
Debit
4,140
400
4,080
7,848
%
12 Q Ne Ne Q NEQNE Q NE
90
1 OneLogin
4.52/20
C Infinite Campus one login
Credit
1
prt sc
![Blossom Company closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its
year-end. On June 30, the Notes Receivable account balance is $22,000. Notes Receivable include the following.
Date
April 21
May 25
June 30
July 5
14
20
Maker
24
Coote Inc.
Brady Co.
BMG Corp.
Face Value
$4,000
7,200
During July, the following transactions were completed.
10,800
Term
90 days
60 days
6 months
Maturity Date
July 20
July 24
December 31
Interest Rate
Made sales of $4,140 on Blossom credit cards.
Made sales of $400 on Visa credit cards. The credit card service charge is 3%.
Received payment in full from Coote Inc. on the amount due.
Received payment in full from Brady Co. on the amount due.
8%
9%
6%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa7967b52-7f4c-4439-8a86-e97f68320435%2F66d47f01-b724-4917-b5c5-2a16eabe7622%2F7vtnvah_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Blossom Company closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its
year-end. On June 30, the Notes Receivable account balance is $22,000. Notes Receivable include the following.
Date
April 21
May 25
June 30
July 5
14
20
Maker
24
Coote Inc.
Brady Co.
BMG Corp.
Face Value
$4,000
7,200
During July, the following transactions were completed.
10,800
Term
90 days
60 days
6 months
Maturity Date
July 20
July 24
December 31
Interest Rate
Made sales of $4,140 on Blossom credit cards.
Made sales of $400 on Visa credit cards. The credit card service charge is 3%.
Received payment in full from Coote Inc. on the amount due.
Received payment in full from Brady Co. on the amount due.
8%
9%
6%
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