Samberg Incorporated had the following transactions. a. October 1 - Sold $20,000 of merchandise on account, 2/9, n/30 to McCormick Industries. b. November 1-Received a $20,000, 90-day, 9% note from McCormick Industries to settle its $20,000 unpaid balance. c. December 31- Accrued interest on the note. (Round your answer to the nearest whole dollar amount.) d. January 31 - Received the interest on the note's maturity date. e. January 31 - Received the principal on the note's maturity date. (Round your answer to the nearest whole dollar amount.) Required: Prepare the required journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet A BCDE < Record the entry for sale of merchandise on account to McCormick Industries. Note: Enter debits before credits. Date General Journal Debit Credit

Samberg Incorporated had the following transactions. a. October 1 - Sold $20,000 of merchandise on account, 2/9, n/30 to McCormick Industries. b. November 1-Received a $20,000, 90-day, 9% note from McCormick Industries to settle its $20,000 unpaid balance. c. December 31- Accrued interest on the note. (Round your answer to the nearest whole dollar amount.) d. January 31 - Received the interest on the note's maturity date. e. January 31 - Received the principal on the note's maturity date. (Round your answer to the nearest whole dollar amount.) Required: Prepare the required journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet A BCDE < Record the entry for sale of merchandise on account to McCormick Industries. Note: Enter debits before credits. Date General Journal Debit Credit

Name: Samberg Incorporated had the following transactions.a. October 1 - So
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Description: Samberg Incorporated had the following transactions.a. October 1 - Sold $20,000 of merchandise on account, 2/9, n/30 to McCormick Industries.b. November 1- Received a $20,000, 90-day, 9% note from McCormick Industries to settle its $20,000 unpaid ba

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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