Pina Colada Corp. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest except at December 31. Loaned $12,600 cash to Manny Lopez on a 12 month, 10% note. Sold goods to Ralph Kremer, Inc., receiving a $24,750, 90-day, 8% note. Received a $22,800, 180 day, 10% note in exchange for Joe Fernetti's outstanding accounts receivable. 31 Accrued interest revenue on all notes receivable Nov. 1 Dec. 11 16 Journalize the transactions for Pina Colada Corp. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Use 360 days for calculation. Round answers to 0 decimal places, eg. 5,275. Record journal entries in the order presented in the problem.) Date eTextbook and Media List of Accounts Account Titles and Explanation Date Debit Record the collection of the Lopez note at its maturity in 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Credit Debit Credit

Pina Colada Corp. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest except at December 31. Loaned $12,600 cash to Manny Lopez on a 12 month, 10% note. Sold goods to Ralph Kremer, Inc., receiving a $24,750, 90-day, 8% note. Received a $22,800, 180 day, 10% note in exchange for Joe Fernetti's outstanding accounts receivable. 31 Accrued interest revenue on all notes receivable Nov. 1 Dec. 11 16 Journalize the transactions for Pina Colada Corp. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Use 360 days for calculation. Round answers to 0 decimal places, eg. 5,275. Record journal entries in the order presented in the problem.) Date eTextbook and Media List of Accounts Account Titles and Explanation Date Debit Record the collection of the Lopez note at its maturity in 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Credit Debit 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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Question

Pina Colada Corp. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not
make entries to accrue interest except at December 31.
Nov. 1
Dec 11
16
31
Loaned $12,600 cash to Manny Lopez on a 12 month, 10% note.
Sold goods to Ralph Kremer, Inc., receiving a $24,750, 90-day, 8% note.
Received a $22,800, 180 day, 10% note in exchange for Joe Fernetti's outstanding accounts receivable.
Accrued interest revenue on all notes receivable.
Journalize the transactions for Pina Colada Corp. (Credit account titles are automatically indented when amount is entered. Do not
indent manually. Use 360 days for calculation. Round answers to 0 decimal places, eg. 5,275. Record journal entries in the order presented
in the problem.)
Date
> > >
eTextbook and Media
List of Accounts
Date
Account Titles and Explanation
V
Record the collection of the Lopez note at its maturity in 2021. (Credit account titles are automatically indented when amount is
entered. Do not indent manually.)
Debit
Account Titles and Explanation
Credit
Debit
Credit

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