Splish Brothers Exporters sold goods to Bonita Electronics for $50,000 on October 1, 2017, accepting Bonita Electronics’ $50,000, 6-month, 8% note.Prepare Splish Brothers’s October 1 entry, December 31 annual adjusting entry, and April 1 entry for the collection of the note and interest. *(Credit account titles are automatically indented when the 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 0 for the amounts.)*| Date | Account Titles and Explanation | Debit | Credit ||------------|--------------------------------|-------|--------|| 10/1/17 | | | || - | | | || 12/31/17 | | | || - | | | || 4/1/18 | | | || - | | | |Dropdown menu options for the dates: 10/1/17, 12/31/17, and 4/1/18. **Transaction Details:**Splish Brothers Exporters sold goods to Bonita Electronics for $50,000 on October 1, 2017, accepting Bonita Electronics' $50,000, 6-month, 8% note.**Instructions:**Prepare Splish Brothers' entries for the following:1. October 1 entry2. December 31 annual adjusting entry3. April 1 entry for the collection of the note and interest*Note:* Credit account titles are automatically indented when the 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 0 for the amounts.**Journal Entry Table:**| Date | Account Titles and Explanation | Debit | Credit ||------------|--------------------------------|-------|--------|| [Dropdown] | | | || [Dropdown] | | | || [Dropdown] | | | || | | | || | | | || | | | |The table includes columns for the date of the transaction, account titles and explanations, and spaces for entering debit and credit amounts. The dropdown options allow the selection of specific dates.

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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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