Answer in same Format The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing:20Υ7Dec.Received from Unitarian Clothing & Bags Co., on account, a $36,000, 60-day, 6% note datedDecember 7.31Recorded an adjusting entry for accrued interest on the note of December 7.31Recorded the closing entry for interest revenue.20Y8Feb.5 Received payment of note and interest from Unitarian Clothing & Bags Co.Journalize the entries to record the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exactwording of account titles. Assume a 360-day year.JOURNALACCOUNTING EDATEDESCRIPTIONPOST, REF.DEBITCREDITASSETSLIABILIT

Note receivable is the financial instrument used as a promissory note that states the amount that…

The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing: 20Υ7 Dec. Received from Unitarian Clothing & Bags Co., on account, a $36,000, 60-day, 6% note dated December 7. 31 Recorded an adjusting entry for accrued interest on the note of December 7. 31 Recorded the closing entry for interest revenue. 20Υ8 Feb. 5. Received payment of note and interest from Unitarian Clothing & Bags Co. Journalize the entries to record the transactions. It no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year.

The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing: 20Υ7 Dec. Received from Unitarian Clothing & Bags Co., on account, a $36,000, 60-day, 6% note dated December 7. 31 Recorded an adjusting entry for accrued interest on the note of December 7. 31 Recorded the closing entry for interest revenue. 20Υ8 Feb. 5. Received payment of note and interest from Unitarian Clothing & Bags Co. Journalize the entries to record the transactions. It no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

kau.3 answer must be in table format or i will give down vote
Define Indirect method
What is a double-entry? Give an example?
Req1-Req2 were incorrect. Can you try the problem again ?
Answer each of the following independent question: a and b
where is the correcting entry of the following?
explain the four types of closed questions.
Briefly discuss the nature of Single entry and double entry system.