ustructions Chart of Accounts Journal ructions nal JOURNAL ACCO DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS Jun. 23 Notes Receivable 48,000.00 Accounts Receivable 48,000.00 Sept 21 Accounts Receivable 48,960.00 Notes Receivable 48,000.00 Interest Revenue 960.00 Oct. 21 Cash 49,368.00 Accounts Receivable 48,960.00 Interest Revenue 408.00 31% -4°F 后 (8)
ustructions Chart of Accounts Journal ructions nal JOURNAL ACCO DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS Jun. 23 Notes Receivable 48,000.00 Accounts Receivable 48,000.00 Sept 21 Accounts Receivable 48,960.00 Notes Receivable 48,000.00 Interest Revenue 960.00 Oct. 21 Cash 49,368.00 Accounts Receivable 48,960.00 Interest Revenue 408.00 31% -4°F 后 (8)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Entries for receipt and dishonor or note receivable
Transcribed Image Text:ntries for receipt and dishonor of note receivable
Instructions
Chart of Accounts
Journal
Instructions
Journal
JOURNAL
ACCO A
DATE
DESCRIPTION
POST. REF.
DEBIT
CREDIT
ASSETS
1.
Jun. 23
Notes Receivable
48,000.00
Accounts Receivable
48,000.00
Sept 21 Accounts Receivable
48,960.00
3
Notes Receivable
48,000.00
5
Interest Revenue
960.00
Oct. 21
Cash
49,368.00
Accounts Receivable
48,960.00
Interest Revenue
408.00
31%
-4°F
F5
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F8
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17
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Transcribed Image Text:nstructions
June
23
Received a $48,000, 90-day, 8% note dated June 23 from Radon Express Co. on account.
Sept.
21
The note is dishonored by Radon Express Co.
Oct.
21
Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount
charged to Radon Express Co. on September 21.
Required:
Journalize the above transactions of Trapper Jon's Productions. Refer to the chart of accounts for the exact wording of the account titles.
CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals
will automatically indent a credit entry when a credit amount is entered, Assume 360 days in a year.
32%
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