Sunland Family Importers sold goods to Tung Decorators for $37,800 on November 1, 2025, accepting Tung's $37 note. Prepare Sunland's November 1 entry, December 31 annual adjusting entry, and May 1 entry for the collection of the note and interest. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) nation Debit Credit
Sunland Family Importers sold goods to Tung Decorators for $37,800 on November 1, 2025, accepting Tung's $37 note. Prepare Sunland's November 1 entry, December 31 annual adjusting entry, and May 1 entry for the collection of the note and interest. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) nation Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Sunland Family Importers sold goods to Tung Decorators for $37,800 on November 1, 2025, accepting Tung's $37,800, 6-month, 6%
note.
Prepare Sunland's November 1 entry, December 31 annual adjusting entry, and May 1 entry for the collection of the note and interest.
(if no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented
when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in
the problem.)
Date:
Account Titles and Explanation
Debit
Credit
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