Prepare general journal entries for the following transactions of Kader Company Kader Company had the following balances on January 1, 2020:Allowance for doubtful accounts$2,60056,000Notes receivablePrepare general journal entries for the following transactions of Kader Company:Mar.21Discounted a $10,000, 9%, 120-day note dated March 1, receivedfrom Creed Corp, at the bank at 12%.Apr.25 Sold $4,500 of merchandise to Finn Corp., receiving a 10%, 60- daynote receivable.10Wrote off $1,800 account owed by Friller as worthless.MayJune24 Note signed by Finn Corp. on April 25 was dishonoured.29 Received a memo from the bank that the note discounted onMarch 21 was collectedDec.31 Uncollectible accounts receivable were estimated to be $3,20O.

Name: Prepare general journal entries for the following transactions of Kade
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Description: Prepare general journal entries for the following transactions of Kader Company Kader Company had the following balances on January 1, 2020:Allowance for doubtful accounts$2,60056,000Notes receivablePrepare general journal entries for the following t

Calculation of discounting charges Total maturity value= Face value of note + Interest = $ 10000 + $…

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Kader Company had the following balances on January 1, 2020: Allowance for doubtful accounts $ 2,600 56,000 Notes receivable Prepare general journal entries for the following transactions of Kader Company: Mar. 21Discounted a $10,000, 9%, 120-day note dated March 1, received from Creed Corp, at the bank at 12%. 25 Sold $4,500 of merchandise to Finn Corp., receiving a 10%, 60- day note receivable. 10Wrote off $1,800 account owed by Friller as worthless. Apr. May June 24 Note signed by Finn Corp. on April 25 was dishonoured. 29 Received a memo from the bank that the note discounted on March 21 was collected Dec. 31Uncollectible accounts receivable were estimated to be $3,200.